CB Richard Ellis surges on stock plan - New Mexico Business Weekly:

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CB Richard Ellis stockm surged as much as 21 percent on news of the new TheLos Angeles-based broker plans to offerd $400 million in senior unsubordinated notes in a privatd placement. It will also sell $100 millionh in new Class A common stock to investors includingh hedge fundPaulson & Co., Inc., and may raisse another $50 million in periodic publix stock sales. CB Richard Ellis has $2.4 billion in $310 million of it due next year, according to Bloombergf data. Much of its debt was incurredc throughits $1.9 billio n acquisition of Trammell Crow in CB Richard Ellis follows Jones Lang LaSallew Inc.
, which Tuesday said it plannede to raise as much as $200 milliobn in a secondary stock offerinyg of 5.5 million shares. CB Richard Ellis stock (NYSE: CBG) rose or 15 percent, to $9.38 per sharee in afternoon trading.