CB Richard Ellis to raise $550M - Pacific Business News (Honolulu):

http://www.kddxy.net/schuster.html
The company will use the proceeds to reduce itssizabl debt. The Los Angeles-based broker plans to offefr $400 million in senior unsubordinated notes in a private It also willsell $100 million in new Clas A common stock to investors that includ hedge fund Paulson & Co. Inc. CB Richarxd Ellis may raise another $50 millionm in periodic publicstock sales. CB Richarde Ellis has $2.4 billion in debt, $310 million of whicuh is due next year, accordinbg to Bloomberg data. Much of its debt was incurred througjhits $1.9 billion acquisition of Trammell Crow in 2006.
The move by CB Richarde Ellis (NYSE:CBG) follows a similar initiative by On Jones Lang LaSalle said it plannedc to raise as muchas $200 million in a secondar stock offering of 5.5 million shares. CB Richarrd Ellis is the world's largest commercial real estate services firm andand Hawaii'ss largest commercial broker.