CALI REALTY CORPORATION ANNOUNCES $75 MILLION CREDIT FACILITY AGREEMENT WITH NATWEST MARKETS.CRANFORD, NJ--(BUSINESS WIRE)--February 8, 1996--Cali Realty Corporation (NYSE NYSE See: New York Stock Exchange :CLI (1) (Call Level Interface) A database programming interface from the SQL Access Group (SAG), an SQL membership organization. SAG's CLI is an attempt to standardize the SQL language for database access. ) today announced that it has entered into a $75 million Credit Facility Agreement with NatWest Markets, as agent and NatWest Bank, N.A., as co-agent. The $75 million credit facility, which is secured and cross-collaterized by 26 office and office/flex properties, bears an annual interest rate of LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). plus 150 basis points and matures in February 1999. The proceeds from the credit facility will be used for the financing of certain activities related to the acquisition and development of properties, the repayment of indebtedness under existing credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities and for general corporate purposes. Commenting on the credit facility, Thomas A. Rizk, the Company's President and Chief Executive Officer, said "The $75 million credit facility provides our Company with an additional source of capital and allows us to continue implementing our acquisition growth strategy." Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) providing leasing, management, acquisition, development, construction and tenant related services for its properties. Cali Realty owns 40 office and office/flex buildings totaling approximately 3.9 million square feet and a 327 unit residential complex. All of the properties are located in New Jersey except for one, which is located in Rockland County, New York Rockland County is a county located in the U.S. state of New York, 12 miles north-northwest of New York City. As of the 2000 census, the population was 286,753. The county seat is New City. The name comes from "rocky land," an early description of the area given by settlers. . CONTACT: Thomas A. Rizk President and Chief Executive Officer (908) 272-8000 |
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