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AI brief of an SEC Form 8-K · Getty Realty (GTY)

Getty Realty sets $125 million senior note financing with New York Life and Prudential

Neutral Impact 2 of 5 financing Written later

Getty Realty agreed on November 21, 2024 to issue $125 million of senior unsecured notes to affiliates of New York Life and Prudential, with funding set for February 25, 2025. The proceeds will repay a $50 million 4.75% Series C note maturing on the same date, with the rest used for general corporate purposes, including investment activity.

Key points

  • Notes total $125 million: $75 million from New York Life (Series R at 5.52% due September 12, 2029 and Series S at 5.70% due February 22, 2032) and $50 million from Prudential (Series T at 5.70% due February 22, 2032)
  • Funding is scheduled for February 25, 2025, and proceeds will repay the $50 million 4.75% Series C notes due February 25, 2025
  • The agreements include customary covenants limiting leverage, fixed charge coverage and restricted payments, which may limit debt incurrence or dividends
  • Events of default include a default under the Second Restated Credit Agreement with banks led by Bank of America, N.A., and failure to maintain REIT status

The filing

CompanyGetty Realty (GTY)
Form8-K, current report
Filed with the SECNov 25, 2024, 4:30 PM ET
Accession number0000950170-24-130591

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 25, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.