CB Richard Ellis to launch offering - Nashville Business Journal:

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The company will use the proceeds to reduce itssizablde debt. The national firm's Nashville operation, based is Middle Tennessee's largest commercial brokerage, according to Business Journapl research. The Los Angeles-based broker plans to offer $400 million in seniof unsubordinated notes in aprivate placement. It also will sell $100 millionh in new Class-A common stock to investors that includew hedge fundPaulson & Co. Inc. CB Richardc Ellis may raise another $50 million in periodicf publicstock sales. CB Richard Ellis has $2.4 billion in debt, $310 million of whicy is due next year, according to Bloomberg Much of its debt was incurred throughbits $1.
9 billion acquisition of Trammell Crow in 2006. The move by CB Richarsd Ellis (NYSE: CBG) follows a similar initiative by On Jones Lang LaSalle said it planne to raise as muchas $200 milliojn in a secondary stock offering of 5.5 milliob shares. CB Richard Ellis is the world’s largest commerciapl real estateservices firm. It has more than 29,00o employees worldwide.