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Mack-Cali prices USD250m offering of ten-year senior notes

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Mack-Cali Realty has agreed to sell USD250m of 7.75 per cent senior unsecured notes due 2019 in an underwritten public offering through Banc of America Securities, Citigroup Global Mark

Mack-Cali Realty has agreed to sell USD250m of 7.75 per cent senior unsecured notes due 2019 in an underwritten public offering through Banc of America Securities, Citigroup Global Markets and J.P. Morgan Securities as joint book-running managers.

The notes were priced at 99.145 per cent of the principal amount to yield 7.875 per cent to maturity. The offering is expected to close on 14 August 2009.

The proceeds from the offering after deducting underwriting discounts and offering expenses were approximately USD245.6m. The net proceeds from the offering will be used for general corporate purposes, which may include the purchasing or retiring of some of the operating partnership’s outstanding debt securities.

Deutsche Bank Securities, BNY Mellon Capital Markets, Comerica Securities, Mitsubishi UFJ Securities (USA), PNC Capital Markets, RBS Securities, Scotia Capital (USA), SunTrust Robinson Humphrey, US Bancorp Investments, and Wells Fargo Securities acted as co-managers.

Upon issuance, the notes will be senior unsecured obligations of the operating partnership and will rank equally in right of payment with other existing and future senior unsecured indebtedness of the operating partnership.

Mack-Cali Realty is a fully-integrated, self-administered, self-managed real estate investment trust providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio.

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