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Getty Realty Corp. Announces the Extention of the Maturity Date of Its $175 Million Revolving Credit Agreement to March 2012

^{Published on 2011-03-10 15:35:46 - Market Wire}
 

JERICHO, N.Y.--([ BUSINESS WIRE ])--Getty Realty Corp. (NYSE-GTY) (the aCompanya) announced that it has exercised its option to extend for one year the maturity date of its $175 million senior unsecured revolving credit agreement with a group of domestic commercial banks with JPMorgan Chase Bank N.A., as the Administrative Agent. The new maturity of the credit agreement is March 27, 2012. All other terms of the credit agreement remain the same.

The credit facility permits borrowings at an interest rate equal to the sum of a base rate plus a margin ranging from 0.0% to 0.25% or a LIBOR rate plus a margin ranging from 1.0% to 1.5%. The applicable margin is based on the Company's leverage ratio, as defined in the credit agreement.

Getty Realty Corp. is the largest publicly-traded real estate investment trust in the United States specializing in ownership, leasing and financing of retail motor fuel and convenience store properties and petroleum distribution terminals. The Company owns and leases approximately 1,110 properties nationwide.

Certain statements in this press release may constitute aforward-looking statementsa within the meaning of the Private Securities Litigation Reform Act of 1995. When the words abelieves,a aexpects,a aplans,a aprojects,a aestimatesa and similar expressions are used, they identify forward-looking statements. These forward-looking statements are based on managementa™s current beliefs and assumptions and information currently available to management and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.