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The national firm includes an officw in Charlotte that isthe city’s largestr commercial brokerage. The company will use the proceedsx to reduce itssizable debt. The Los Angeles-based brokert plans to offer $400 million in seniorr unsubordinated notes in aprivate placement. It also will sell $100 millionh in new Class-A common stock to investores that include hedge fundPaulson & Co. Inc. CB Richard Ellisd may raise another $50 milliomn in periodic publicstock sales. CB Richard Ellis has $2.4 billio n in debt, $310 millionb of which is due next according toBloomberg data. Much of its debt was incurre d throughits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richarrd Ellis (NYSE:CBG) follows a similar initiatives byOn Tuesday, Jones Lang LaSalle said it planne to raise as much as $200 million in a secondarty stock offering of 5.5 million shares. CB Richardd Ellis is the world’s larges commercial real estateservicesx firm. It has more than 29,000 employeesd worldwide.
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