CB Richard Ellis surges on stock plan - Tampa Bay Business Journal:

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CB Richard Ellis stock surgee as much as 21 percentr on news of thenew capital. The Los Angeles-basexd broker, which is one of the most active in the Tampa Bay area, plans to offer $400 million in seniodr unsubordinated notes in a private placement. It will also sell $100 milliomn in new Class A common stock to investors includingf hedge fundPaulson & Co. Inc. and may raise another $50 million in periodic public stock sales. CB Richard Ellis has $2.4 billiohn in debt, $310 million of it due next according toBloomberg data. Much of its debt was incurredc throughits $1.9 billion acquisitiojn of in 2006..
CB Richard Ellis follows , which Tuesdayh said it planned to raise as muchas $200 millionh in a secondary stock offering of 5.5 million shares. CB Richardf Ellis stock (NYSE: CBG) rose $1.24, or 15 to $9.38 per share in afternoon trading.