Cali Realty Corporation Announces 10 Million Share Equity Offering.CRANFORD, N.J.--(BUSINESS WIRE)--Sept. 19, 1997--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 begun a public equity offering of 10 million common shares. The Company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering to reduce certain outstanding borrowings under its revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facilities, to fund a portion of the purchase price of its transaction with The Mack Company and Patriot American Office Group, and for general corporate purposes. The underwriting team, led by Prudential Securities Incorporated, includes Bear, Stearns & Co. Inc., Donaldson, Lufkin & Jenrette Securities Corporation, Morgan Stanley Dean Witter, PaineWebber Incorporated, Smith Barney Inc., UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Securities, and Wheat First Butcher Singer. 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 portfolio. The Company owns 132 properties, primarily office and office/flex buildings, totaling approximately 12.2 million square feet. All of the properties are located in New Jersey, New York, Pennsylvania and Connecticut. Preliminary prospectuses will be available at the Prudential Securities Incorporated Prospectus Department, located on 111 8th Avenue, New York, New York 10011 (212-776-8190). CONTACT: Barry Lefkowitz Chief Financial Officer 908/272-8000 or Gregory Pettit Edelman Financial 212/704-8176 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion