EDISON, NJ—Mack-Cali Realty Corp. has announced an underwritten public offering of $300 million in senior unsecured notes due in 2022. The notes were priced 99.8% of the principal amount to yield 4.525 % at maturity. The offering is expected to close April 19.
The notes are being offered under the company’s joint shelf registration statement with its operating partnership, Mack-Cali Realty, L.P. Bank of America Merrill Lynch, Citigroup and J.P. Morgan will act as joint book-running managers for the offering. BB&T Capital Markets, BNY Mellon Capital Markets, Capita One Southcoast, Comerica Securities, Deutsche Bank Securities, Mitsubishi UFJ Securities, PNC Capital Markets, RBS SunTrust Robinson Humphrey, TD Securities, U.S. Bancorp and Wells Fargo Securities served as co-managers.
The proceeds from the note sale will be used for general corporate purposes, which may include repayment of revolving credit loans and the purchasing or retiring of some outstanding debt securities, Mack-Cali stated in its preliminary prospectus for the note sale.
The notes will become senior unsecured obligations of the operating partnership, to rank equally in right of payment with other existing and future senior unsecured debts.
Mack-Cali, a self-administered, self-managed real estate investment trust, is set to hold its annual stockholders’ meeting June 5 at the Hyatt Regency Jersey City. The company owns or has interests in 277 properties, primarily office and office/flex buildings located in the Northeast.
The note offering is being made solely through the prospectus and a related supplement. Copies are available from the offering managers:
- Citigroup Global Markets Inc., Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, Attn: Prospectus Department; phone (877) 858-5407; or e-mail at [email protected]
- Merrill Lynch, Pierce, Fenner & Smith Inc., 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department; phone: (800) 294-1322; or e-mail at [email protected]
- J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, attention: Investment Grade Syndicate Desk; phone collect (212) 834-4355.
A statement and related prospectus have been filed with the Securities and Exchange Commission (SEC), and copies are available on the SEC website, www.sec.gov.
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