CBRE Shores Up Their Position

Bizjournals:

Paulson & Co., a hedge fund that was part of the group that bought the banking operations of IndyMac, is buying $100 million worth of shares in CB Richard Ellis Group Inc.
Los Angeles' CBRE also announced other initiatives to raise capital:

The sale of $50 million in shares from time to time to the public

An offering of $400 million in senior notes due 2017

The company intends to use the net proceeds from the Paulson direct placement and the public offering for general corporate purposes, which may include the repayment or repurchase of some of its debt.

It plans to use the proceeds from the notes sale to repay or repurchase debt.
The company also issued guidance for its second quarter, anticipating earnings per share between zero and 7 cents a share, excluding one-time items. CBRE said that the "forecast is highly preliminary," due to a "difficult and uncertain market environment."

CBRE (NYSE: CBG) is the world's largest commercial real estate firm.