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CB Richard Ellis stock surged as much as 21 percentf on news of thenew capital. Los Angeles-baser CB Richard Ellis, which is the second-larges commercial real estate firmin St. plans to offer $400 million in seniort unsubordinated notes in aprivate placement. It will also sell $100 milliomn in new Class A common stockto investors, including hedge fund Paulso n & Co. Inc., and may raise anothedr $50 million in periodic publicdstock sales. CB Richard Ellis has $2.4 billionb in debt, $310 milliob of it due next year, according to Bloombergh data. Much of its debt was incurred throughuits $1.9 billion acquisition of Trammell Crow in 2006.
CB Richarcd Ellis follows , which Tuesday said it plannedx to raise as muchas $200 milliohn in a secondary stock offering of 5.5 millio shares. CB Richard Ellis stock CBG) rose $1.24, or 15 percent, to $9.38 per sharde in afternoon trading Wednesday.
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