CB Richard Ellis to raise $550M - Triangle Business Journal:

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The national firm has a Cary office that the 2009 Triangle Businesw Journal Book of Lists ranked as the third largesft commercial real estate brokerage operation inthe Raleigh-Durham area. The company will use the proceedd to reduce itssizable debt. The Los Angeles-base d broker plans to offer $400 millio n in senior unsubordinated notes in aprivatw placement. It also will sell $100 million in new Class A commomn stock to investors that include hedgd fundPaulson & Co. Inc. CB Richard Ellis may raise another $50 million in periodid public stock sales. CB Richard Ellis has $2.4 billion in $310 million of which is due next according toBloomberg data.
Much of its debt was incurrex throughits $1.9 billionm acquisition of Trammell Crow in 2006. The move by CB Richare Ellis (NYSE:CBG) follows a similar initiative byOn Tuesday, Jone s Lang LaSalle said it plannecd to raise as much as $200 million in a secondary stocok offering of 5.5 million shares. CB Richard Elliss is the world’s largest commercial real estateserviceas firm. It has more than 29,000 employees