Quarterly report pursuant to Section 13 or 15(d)

Senior Unsecured Notes

v3.20.2
Senior Unsecured Notes
9 Months Ended
Sep. 30, 2020
Debt Disclosure [Line Items]  
Senior Unsecured Notes 8.     SENIOR UNSECURED NOTES

A summary of the Company’s senior unsecured notes as of September 30, 2020 and December 31, 2019 is as follows (dollars in thousands):

September 30,

December 31,

Effective

2020

2019

Rate (1)

4.500% Senior Unsecured Notes, due April 18, 2022

$

300,000

$

300,000

4.612

%

3.150% Senior Unsecured Notes, due May 15, 2023

275,000

275,000

3.517

%

Principal balance outstanding

575,000

575,000

Adjustment for unamortized debt discount

(1,671)

(2,170)

Unamortized deferred financing costs

(969)

(1,346)

Total senior unsecured notes, net

$

572,360

$

571,484

(1)Includes the cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable.

The terms of the Company’s senior unsecured notes include certain restrictions and covenants which require compliance with financial ratios relating to the maximum amount of debt leverage, the maximum amount of secured indebtedness, the minimum amount of debt service coverage and the maximum amount of unsecured debt as a percent of unsecured assets. The Company was in compliance with its debt covenants under the indenture relating to its senior unsecured notes as of September 30, 2020.

 
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 September 30, 2020 and December 31, 2019 is as follows (dollars in thousands):

September 30,

December 31,

Effective

2020

2019

Rate (1)

4.500% Senior Unsecured Notes, due April 18, 2022

$

300,000

$

300,000

4.612

%

3.150% Senior Unsecured Notes, due May 15, 2023

275,000

275,000

3.517

%

Principal balance outstanding

575,000

575,000

Adjustment for unamortized debt discount

(1,671)

(2,170)

Unamortized deferred financing costs

(969)

(1,346)

Total senior unsecured notes, net

$

572,360

$

571,484

(1)Includes the cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable.

The terms of the Company’s senior unsecured notes include certain restrictions and covenants which require compliance with financial ratios relating to the maximum amount of debt leverage, the maximum amount of secured indebtedness, the minimum amount of debt service coverage and the maximum amount of unsecured debt as a percent of unsecured assets. The Company was in compliance with its debt covenants under the indenture relating to its senior unsecured notes as of September 30, 2020.