CB Richard Ellis Services, Inc. Announces Completion of Tender Offer and Consent Solicitation for Its 9 3/4% Senior Notes Due 2010.LOS ANGELES -- CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. Services, Inc. (the "Company"), a wholly-owned subsidiary of CB Richard Ellis Group, Inc. (NYSE NYSE See: New York Stock Exchange : CBG CBG corticosteroid-binding globulin. ), today announced the completion of the Company's previously announced cash tender offer and consent solicitation Consent Solicitation A solicitation by one party to the stakeholders of a particular security for the consent of a material change. Notes: Should the majority of stakeholders provide valid consent prior to the consent expiry date, the issuer may then follow through with (the "Offer") to purchase all of its 9th% Senior Notes due 2010 (the "Notes"). A total of $126,690,000 in aggregate principal amount of Notes, or approximately 97.5% of the outstanding principal amount of the Notes, were tendered prior to the expiration date of 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on December 4, 2006. The Company has accepted for purchase and has paid for, all Notes tendered pursuant to the Offer. On November 17, 2006, the Company, CB Richard Ellis Group, Inc., certain subsidiary guarantors and the indenture trustee executed a supplemental indenture effecting certain amendments to the indenture governing the Notes. The amendments, which eliminate or modify the restrictive covenants and certain events of default, became operative upon acceptance of the Notes for purchase. Credit Suisse Securities (USA) LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control acted as Dealer Manager in connection with the Offer. About CB Richard Ellis CB Richard Ellis Group, Inc. (NYSE:CBG), a FORTUNE 1000 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2005 revenue). With approximately 14,500 employees, the Company serves real estate owners, investors and occupiers through more than 200 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; investment management; appraisal and valuation; and research and consulting. Founded in 1906, CB Richard Ellis marks a century of excellence in real estate services this year. Please visit our Web site at www.cbre.com. |
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