(Read more on the debt and equitymarkets.)

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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.

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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.

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"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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