Mack-Cali Realty to buy $100.3 million of 7.25% notes in tender offer

By Susanna Moon

Chicago, Nov. 17 - Mack-Cali Realty Corp. said its operating partnership, Mack-Cali Realty LP, accepted for purchase $100.3 million principal amount of its 7.25% senior unsecured notes due March 15, 2009 under its previously announced cash tender offer.

The offer expired at 5 p.m. ET on Nov. 14. The payment date is expected to be Nov. 18. The offer for $300 million of the notes began on Nov. 6.

The notes tendered represent 33.4% of the principal amount outstanding before the offer.

Mack-Cali said it will pay par plus accrued interest to the payment date, or a total of $101.5 million.

The offer will be funded with available cash and borrowings under a $775 million unsecured revolving credit facility.

J.P. Morgan Securities Inc. (866 834-4666 or 212 834-4388) was the dealer manager. Global Bondholder Services Corp. (866 470-4200 or 212 430-3774) was the information agent.

Mack-Cali Realty is an Edison, N.J.-based real estate investment trust with a focus on class A real estate in the Northeast.

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