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
AT&T announced a definitive agreement to purchase Time Warner in a stock-and-cash transaction valued at $107.50 per share. This purchase price implies a total equity value of $85.4 billion and a total transaction value of $108.7 billion, including Time Warner's net debt. AT&T expects the deal to close before year-end 2017. Chipmaker Qualcomm is reportedly in talks with NXP Semiconductor NV (NXPI) for a possible acquisition, reports said. According to Bloomberg, negotiations are on with a probable price of $110 t $120 per NXP share. The deal would value NXP at around $34.7 billion. Regulators have confirmed the eleventh U.S. fatality linked to Takata Corp.'s defective air bag inflators. The National Highway Traffic Safety Administration or NHTSA said Thursday that a crash fatality in Riverside County, California, was tied to the rupture of a recalled Takata air bag inflator.
comments powered by Disqus
Follow RTT