EDISON, N.J., Nov. 13, 2012 /PRNewswire/ -- Mack-Cali
Realty Corporation (the "Company") (NYSE: CLI) today announced that
its operating partnership, Mack-Cali Realty, L.P. (the "Operating
Partnership"), has agreed to sell $250
million of 2.500% senior unsecured notes due 2017 in an
underwritten public offering through BofA Merrill Lynch, Citigroup
and J.P. Morgan as joint book-running managers. BB&T Capital
Markets, BNY Mellon Capital Markets, LLC, Capital One Southcoast,
Comerica Securities, Deutsche Bank Securities, Mitsubishi UFJ
Securities, PNC Capital Markets LLC, RBS, SunTrust Robinson
Humphrey, TD Securities, US Bancorp and Wells Fargo Securities
acted as co-managers. The notes were priced at 99.409% of the
principal amount to yield 2.625% to maturity. The offering is
expected to close on November 20, 2012.
The proceeds from the offering after deducting underwriting
discounts and offering expenses will be approximately $246.3 million. The net proceeds from the
offering will be used for general corporate purposes and working
capital, which will include the repayment of substantially all
outstanding borrowings under the Operating Partnership's unsecured
revolving credit facility and may include purchasing or retiring of
some of the Operating Partnership's outstanding debt
securities.
Upon issuance, the notes will be senior unsecured obligations of
the Operating Partnership and will rank equally in right of payment
with other existing and future senior unsecured indebtedness of the
Operating Partnership. The offering is being made only by means of
an issuer free writing prospectus, a prospectus and related
prospectus supplement, copies of which may be obtained from
Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York,
telephone: (800) 831-9146; Merrill Lynch, Pierce, Fenner &
Smith Incorporated, 4 World Financial Center, New York, NY 10080, Attn: Prospectus
Department, telephone: (800) 294-1322 or by e-mail at
dg.prospectus_requests@baml.com or from J.P. Morgan Securities LLC,
383 Madison Avenue, New York, NY
10179, attention: Investment Grade Syndicate Desk, or by telephone
collect at 212-834-4355. An effective registration statement and
related prospectus is on file with the Securities and Exchange
Commission (SEC), and copies of the issuer free writing prospectus
and the prospectus supplement, together with the prospectus, also
will be available on the SEC's website at www.sec.gov. This news
release does not constitute an offer to sell or a solicitation of
any offer to buy such securities nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About Mack-Cali:
Mack-Cali Realty Corporation is a fully-integrated,
self-administered, self-managed real estate investment trust (REIT)
providing management, leasing, development, construction and other
tenant-related services for its class A real estate portfolio.
Additional Information:
Statements made in this press release may be forward-looking
statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements can be
identified by the use of words such as "may," "will," "plan,"
"potential," "should," "expect," "anticipate," "estimate,"
"continue," or comparable terminology. Such forward-looking
statements are inherently subject to certain risks, trends and
uncertainties, many of which the Company cannot predict with
accuracy and some of which the Company might not even anticipate,
and involve factors that may cause actual results to differ
materially from those projected or suggested. Readers are cautioned
not to place undue reliance on these forward-looking statements and
are advised to consider the factors listed above together with the
additional factors under the heading "Disclosure Regarding
Forward-Looking Statements" and "Risk Factors" in the Company's
Annual Reports on Form 10-K, as may be supplemented or amended
by the Company's Quarterly Reports on Form 10-Q. The Company
assumes no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events, new
information or otherwise.
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Contacts:
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Barry
Lefkowitz
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Ilene
Jablonski
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Executive
Vice President
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Vice
President of Marketing
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and
Chief Financial Officer
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Mack-Cali
Realty Corporation
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Mack-Cali
Realty Corporation
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(732)
590-1000
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(732)
590-1000
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SOURCE Mack-Cali Realty Corporation