CB Richard Ellis to launch offering - Nashville Business Journal:

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The company will use the proceeds to reduce itssizable debt. The national firm'sw Nashville operation, based downtown, is Middle Tennessee'sx largest commercial brokerage, according to Business Journal TheLos Angeles-based broker planzs to offer $400 milliob in senior unsubordinated notes in a private It also will sell $100 milliom in new Class-A common stock to investor s that include hedge fund Paulson Co. Inc. CB Richard Ellis may raise anothee $50 million in periodic public stock CB Richard Ellishas $2.4 billio n in debt, $310 million of whicu is due next year, according to Bloomberg Much of its debt was incurred througy its $1.9 billion acquisitiob of Trammell Crow in 2006.
The move by CB Richar d Ellis (NYSE: CBG) follows a similar initiativse byOn Tuesday, Jones Lang LaSalle said it planned to raise as much as $200 milliom in a secondary stock offering of 5.5 millio n shares. CB Richard Ellis is the world’s largest commerciapl real estateservices firm. It has more than 29,000 employeese worldwide.