CB Richard Ellis surges on stock plan - Atlanta Business Chronicle:

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CB Richard Ellis stock surged as much as 21 percentr on news of thenew capital. The Los Angeles-baserd broker plans to offer $400 milliob in senior unsubordinated notes in a private It will alsosell $100 millionb in new Class A common stock to investores including hedge fund Paulson & Co., and may raise another $50 milliojn in periodic public stock sales. CB Richard Ellis has $2.4 billioh in debt, $310 million of it due next according toBloomberg data. Much of its debt was incurresd throughits $1.9 billion acquisition of Trammelp Crow in 2006.. CB Richard Ellis followe Jones LangLaSalle Inc.
, which Tuesdahy said it planned to rais as much as $200 million in a secondary stock offering of 5.5 million shares. CB Richarf Ellis stock (NYSE: CBG) rose $1.24, or 15 percent, to $9.37 per share in afternoon trading.