CB Richard Ellis may repay some borrowings with stock, notes proceeds

By Sara Rosenberg

New York, June 10 - CB Richard Ellis Group Inc. may repay or repurchase some of its bank debt using proceeds from the sale of stock and senior subordinated notes, according to 424B5s filed with the Securities and Exchange Commission on Wednesday.

Remaining proceeds will be used for general corporate purposes.

Under the offerings, the company is selling in a direct placement about 13.44 million shares of its class A common stock for gross proceeds of about $100 million to Paulson & Co. Inc., selling up to $50 million of its class A common stock and issuing $400 million of senior subordinated notes due 2017.

CB Richard Ellis is a Los Angeles-based commercial real estate services firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.