August 6, 2009 (FinancialWire) — Mack-Cali Realty Corp.’s (NYSE: CLI) operating partnership has agreed to sell $250 million of 7.75% senior unsecured notes due 2019 in an underwritten public offering. Banc of America Securities (NYSE: BAC), Citigroup Global Markets (NYSE: C) and J.P. Morgan Securities (NYSE: JPM) are acting as joint bookrunning managers.

The notes were priced at 99.145% of the principal amount to yield 7.875% to maturity. The offering is scheduled to close on August 14.

The proceeds from the offering, after deducting underwriting discounts and offering expenses, were around $245.6 million, according to Mack-Cali.

Mack-Cali plans to use the net proceeds for general corporate purposes, which may include the purchasing or retiring of some of the operating partnership’s outstanding debt securities.

Edison, New Jersey-based Mack-Cali Realty is a 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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