CB Richard Ellis to launch offering - Nashville Business Journal:

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The company will use the proceeds to reduce itssizabl debt. The national firm's Nashville operation, based downtown, is Middl Tennessee's largest commercial brokerage, according to Business Journakl research. The Los Angeles-based broker plans to offe $400 million in senior unsubordinatecd notes in aprivatw placement. It also will sell $100 millionj in new Class-A common stock to investor s that include hedge fundPaulson & Co. Inc. CB Richard Ellis may raise another $50 million in periodic public stocjk sales. CB Richard Ellis has $2.4 billion in debt, $310 million of which is due next year, according to Bloomberg Much of its debt was incurred throughgits $1.
9 billion acquisition of Trammell Crow in 2006. The move by CB Richarf Ellis (NYSE: CBG) follows a similat initiative by On Jones Lang LaSalle said it plannee to raise as muchas $200 million in a secondary stocmk offering of 5.5 million shares. CB Richard Ellis is the world’sx largest commercial real estateservices firm. It has more than 29,0000 employees worldwide.