Quarterly report pursuant to Section 13 or 15(d)

Senior Unsecured Notes

v3.21.2
Senior Unsecured Notes
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Line Items]  
Senior Unsecured Notes 8.     SENIOR UNSECURED NOTES

A summary of the Company’s senior unsecured notes as of June 30, 2021 and December 31, 2020 is as follows (dollars in thousands):

June 30,

December 31,

Effective

2021

2020

Rate

4.500% Senior Unsecured Notes, due April 18, 2022 (1)

$

-

$

300,000

-

%

3.150% Senior Unsecured Notes, due May 15, 2023 (1)

-

275,000

-

%

Principal balance outstanding

-

575,000

Adjustment for unamortized debt discount

-

(1,504)

Unamortized deferred financing costs

-

(843)

Total senior unsecured notes, net

$

-

$

572,653

(1)On May 6, 2021, the Company retired these notes earlier than their maturity, using net sales proceeds from completed office property sales and borrowings under its 2021 credit facility and term loan. In conjunction with the notes being discharged, the Company incurred costs of $24.2 million (including a make-whole premium) which was expensed as loss from extinguishment of debt during the three and six months ended June 30, 2021. See Note 9: Revolving Credit Facility and Term Loans.

 
Mack-Cali Realty LP [Member]  
Debt Disclosure [Line Items]  
Senior Unsecured Notes 8.     SENIOR UNSECURED NOTES

A summary of the Company’s senior unsecured notes as of June 30, 2021 and December 31, 2020 is as follows (dollars in thousands):

June 30,

December 31,

Effective

2021

2020

Rate

4.500% Senior Unsecured Notes, due April 18, 2022 (1)

$

-

$

300,000

-

%

3.150% Senior Unsecured Notes, due May 15, 2023 (1)

-

275,000

-

%

Principal balance outstanding

-

575,000

Adjustment for unamortized debt discount

-

(1,504)

Unamortized deferred financing costs

-

(843)

Total senior unsecured notes, net

$

-

$

572,653

(1)On May 6, 2021, the Company retired these notes earlier than their maturity, using net sales proceeds from completed office property sales and borrowings under its 2021 credit facility and term loan. In conjunction with the notes being discharged, the Company incurred costs of $24.2 million (including a make-whole premium) which was expensed as loss from extinguishment of debt during the three and six months ended June 30, 2021. See Note 9: Revolving Credit Facility and Term Loans.