CB Richard Ellis to launch offering - Nashville Business Journal:

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The company will use the proceeds to reduces itssizable debt. The nationapl firm's Nashville operation, based downtown, is Middle Tennessee's largest commercial according to BusinessJournal research. The Los Angeles-bases broker plans to offer $400 milliom in senior unsubordinated notes in aprivatre placement. It also will sell $100 million in new Class-A commobn stock to investors that include hedge fundPaulsoj & Co. Inc. CB Richard Ellixs may raise another $50 million in periodic publiv stock sales. CB Richard Ellis has $2.4 billionh in debt, $310 millionn of which is due next year, according to Bloomberg data. Much of its debt was incurred throughits $1.
9 billion acquisitionh of Trammell Crow in 2006. The move by CB Richard Ellias (NYSE: CBG) follows a similar initiative by On Jones Lang LaSalle said it planned to raise as muchas $200 milliomn in a secondary stock offering of 5.5 million CB Richard Ellis is the world’s largest commercial real estate servicese firm. It has more than 29,000 employees worldwide.