EDISON, NJ-Locally based REIT Mack-Cali Realty Corp.’s operating partnership, Mack-Cali Realty L.P., will redeem for cash the entire $300-million principal amount of its 7.75% notes due Feb. 15, 2011. The notes will be redeemed one month earlier.
The redemption price, including a make-whole premium, will be 101.225% of the principal amount of the notes, plus any accrued and unpaid interest up to, but not including, Dec. 15, 2011.
The notes are to be surrendered to Wilmington Trust Co., as trustee and paying agent, in exchange for payment of the Redemption Price. Mack-Cali, which is helmed by president and CEO Mitchell Hersh, was not available for comment by GlobeSt.com’s deadline.
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