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Mack-Cali Realty Corporation
today announced that its operating partnership, Mack-Cali
Realty, L.P., has refinanced its unsecured revolving credit facility with a
group of 17 lenders, arranged by J.P. Morgan Securities LLC and Merrill
Lynch, Pierce, Fenner & Smith Incorporated.
The $600 million unsecured facility, which is expandable to $1 billion,
carries an interest rate equal to LIBOR plus 110 basis points. The credit
facility, which also carries a facility fee of 20 basis points, has a
four-year term with two six-month extension options. The interest rate and
facility fee are subject to adjustment, on a sliding scale, based upon the
operating partnership's unsecured debt ratings.
The lending group for the credit facility consists of:
-- JPMorgan Chase Bank, N.A., as administrative agent
-- Bank of America, N.A., as syndication agent
-- Deutsche Bank AG New York Branch; U.S. Bank, National Association; and
Wells Fargo Bank, N.A., as documentation agents
-- Capital One, National Association; Citibank, N.A.; Comerica Bank; PNC
Bank, National Association; SunTrust Bank; The Bank of Tokyo-Mitsubishi
UFJ, Ltd.; and The Bank of New York Mellon, as managing agents
-- Compass Bank; Branch Banking and Trust Company; TD Bank, N.A.; Citizens
Bank of Pennsylvania; and Mega International Commercial Bank Co., Ltd.
New York Branch, as participants.
Mack-Cali Realty Corporation is a fully integrated, self-administered,
self-managed real estate investment trust (REIT) providing management,
leasing, development, construction and other tenant-related services for its
class A real estate portfolio. Mack-Cali owns or has interests in 272
properties, consisting of 263 office and office/flex properties totaling
approximately 30.5 million square feet and nine multi-family rental
properties containing over 3,300 residential units, all located in the
Northeast. The properties enable the Company to provide a full complement of
real estate opportunities to its diverse base of commercial and residential
tenants.
Additional information on Mack-Cali Realty Corporation and the commercial
real estate properties and multi-family residential communities available
for lease can be found on the Company's website at www.mack-cali.com.
Statements made in this press release may be forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements can be identified by the use of words
such as "may," "will," "plan," "potential," "should," "expect,"
"anticipate," "estimate," "continue," or comparable terminology. Such
forward-looking statements are inherently subject to certain risks, trends
and uncertainties, many of which the Company cannot predict with accuracy
and some of which the Company might not even anticipate, and involve factors
that may cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on these
forward-looking statements and are advised to consider the factors listed
above together with the additional factors under the heading "Disclosure
Regarding Forward-Looking Statements" and "Risk Factors" in the Company's
Annual Reports on Form 10-K, as may be supplemented or amended by the
Company's Quarterly Reports on Form 10-Q, which are incorporated herein by
reference. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent events,
new information or otherwise.
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