"This issuance has given Mack-Cali the opportunity to take advantage of the favorable financial environment and further demonstrates the financial communities confidence in our company," according to CEO Mitchell E. Hersh, in a statement. "We are especially pleased with this transaction since the notes carry the lowest interest rate of any of our senior unsecured notes."
Banc of America Securities LLC, Citigroup and JPMorgan were the joint bookrunners of the issuance. The co-managers included Bank One Capital Markets Inc., Bear Stearns, Commerzbank Securities, Scotia Capital, Wachovia Securities and Wells Fargo Brokerage Services.
Mack-Cali currently has a portfolio of 263 properties totaling 28.9 million sf, primarily office and office/flex building located in the Northeast. An offering of the securities will be made by means of a prospectus.
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