Thank you for sharing!

Your article was successfully shared with the contacts you provided.

EDISON, NJ-Mack-Cali Realty Corp. has closed its $300-million cash tender offer announced earlier this month, and has accepted for purchase the $100.3-million principal amount of its 7.25% senior unsecured notes, due March 15, 2009. The tender offer was rolled out by the company’s Mack-Cali Realty LP, and the notes accepted for present amount to approximately 33.4% of the outstanding notes.

“The consideration to be paid for each $1,000-principal amount of notes accepted for payment will be $1,000 for notes validly tendered and not withdrawn at or prior to the expiration time,” reads a statement issued by the company. “In addition, each tendering holder…will be paid accrued and unpaid interest…from the last interest payment date up to but not including the payment date. The aggregate consideration…including accrued and unpaid interest is expected to be approximately $101.5 million.”

JP Morgan Securities Inc. was the dealer manager for the tender offer, and payment for the purchased notes is slated for this week.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.