(Read more on the debt and equitymarkets.)


EDISON, NJ-Mack-Cali Realty Corp.'s operating partnership,Mack-Cali Realty LP, has extended and modified its unsecuredrevolving credit facility with a group of lenders that involves atotal of 23 banks. The $600-million unsecured facility, which isexpandable to $800 million, was extended for another two years andnow has a maturity date of June 2011.


As far as the modifications, the interest rate was reduced by 10basis points to Libor plus 55 basis points at the BBB/Baa2 pricinglevel. That interest rate is subject to adjustment on a slidingscale, based on the operating partnership's unsecured debtratings.


"We are pleased to expand upon our relationships in the bankingand financial community as we further enhance our financialflexibility," says Barry Lefkowitz, EVP and CFO of the locallybased REIT.

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