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

Editors Pick
Amgen reported an increase in second-quarter profit, driven by sales of arthritis drug Enbrel and osteoporosis treatments Xgeva and Prolia, and improved margins. Both earnings and sales topped Wall Street estimates. Electronic Arts Inc. (EA) on Thursday reported an increase in profit for the first quarter, reflecting continued strong digital revenues, with both earnings and revenues topping Wall Street estimates. However, shares of the company fell over 4 percent, after having detailed a weak outlook. Redwood... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its second quarter loss widened sharply from last year, as higher costs and expenses more than offset a 33% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in well above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
RELATED NEWS
Trade CLI now with 
Follow RTT