CB Richard Ellis to raise $550M - Minneapolis / St. Paul Business Journal:

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The company will use the proceeds to reduce its sizable TheLos Angeles-based broker plans to offer $400 milliomn in senior unsubordinated notes in a private It also will sell $100 milliojn in new Class A common stock to investorsa that include hedge fund Paulson Co. Inc. CB Richard Ellis may raise anothef $50 million in periodic public stockj sales. CB Richard Ellis has $2.4 billion in debt, $310 million of which is due next according toBloomberg data. Much of its debt was incurred throughits $1.9 billion acquisition of Trammelpl Crow in 2006.
The move by CB Richarsd Ellis (NYSE:CBG) follows a similar initiative by On Jones Lang LaSalle said it planned to raiss as muchas $200 million in a secondaryt stock offering of 5.5 million CB Richard Ellis is the world’se largest commercial real estate servicew firm. It has more than 29,000 employeez worldwide. It's the Twin Cities' second-largest commercial real estate brokerage firm andthe third-largest commercial property management firm.