logo
Share SHARE
FONT-SIZE Plus   Neg

Mack-Cali Realty To Sell $300 Mln Of 4.500% Senior Unsecured Notes Due 2022

Mack-Cali Realty Corp. (CLI) announced that its operating partnership, Mack-Cali Realty, L.P., has agreed to sell $300 million of 4.500% senior unsecured notes due 2022 in an underwritten public offering through BofA Merrill Lynch, Citigroup and J.P. Morgan as joint book-running managers.

The notes were priced at 99.801% of the principal amount to yield 4.525% to maturity. The offering is expected to close on April 19, 2012.

The company stated that the proceeds from the offering after deducting underwriting discounts and offering expenses were approximately $296.8 million. The net proceeds from the offering will be used to repay outstanding borrowings under the Operating Partnership's unsecured revolving credit facility and for general corporate purposes, which may include the purchasing or retiring of some of the Operating Partnership's outstanding debt securities.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alteryx, Inc., a provider of self-service data analytics software, is the latest tech company to go public in March. Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. Dunkin' Donuts is bidding adieu to one of its frozen coffee beverages this summer. However, loyal fans of the decades-old menu staple have not taken kindly to the news. The coffee chain said it will discontinue its popular Coffee Coolatta beverage this summer and instead, introduce the new Frozen Dunkin' Coffee, made with coffee extract, sugar and milk. Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company.
comments powered by Disqus
Follow RTT