Getty Realty Corp. Amends and Restates Senior Unsecured Credit Agreement

– Increases Size of Revolving Facility –
– Lowers Interest Rates –
–
Extends Maturities –

JERICHO, N.Y.–(BUSINESS WIRE)–Getty Realty Corp. (NYSE:GTY) (the “Company”) announced today it has
amended and restated its senior unsecured credit agreement (the
“Restated Credit Agreement”). The Restated Credit Agreement increases
the Company’s borrowing capacity under its unsecured revolving facility
(the “Revolving Facility”) from $175 million to $250 million and
maintains the Company’s unsecured term loan (the “Term Loan”) in the
original principal amount of $50 million. In addition, the Restated
Credit Agreement extends the maturity date of the Revolving Facility
from June 2018 to March 2022, with a one-year extension option, and the
Term Loan from June 2020 to March 2023.

The Restated Credit Agreement also reflects reductions in the interest
rates for borrowings under each of the Revolving Facility and the Term
Loan. The Revolving Facility permits borrowings at an interest rate
equal to the sum of a base rate plus a margin of 0.50% to 1.30% or a
LIBOR rate plus a margin of 1.50% to 2.30% based on the Company’s
consolidated total indebtedness to total asset value ratio. The Term
Loan bears interest at a rate equal to the sum of a base rate plus a
margin of 0.45% to 1.25% or a LIBOR rate plus a margin of 1.45% to 2.25%
based on the Company’s consolidated total indebtedness to total asset
value ratio.

The Company entered into the Restated Credit Agreement with certain
banks and other lenders, including, Bank of America, N.A., as
administrative agent. Merrill Lynch, Pierce, Fenner & Smith
Incorporated, J.P. Morgan Chase Bank, N.A., KeyBanc Capital Markets and
RBC Capital Markets acted as joint lead arrangers and joint bookrunners.

As part of this transaction, the Company also entered into an amendment
to its existing senior unsecured note purchase agreement with The
Prudential Insurance Company of America and certain of its affiliates in
order to conform the provisions therein relating to financial covenants
to the corresponding provisions in the Restated Credit Agreement.

About Getty Realty Corp.

Getty Realty Corp. is the leading publicly-traded real estate investment
trust in the United States specializing in the ownership, leasing and
financing of convenience store and gasoline station properties. As of
December 31, 2017, the Company owned 828 properties and leased 79
properties from third-party landlords in 28 states across the United
States and Washington, D.C.

Contacts

Investor Relations
516-478-5418
[email protected]