WHEN: TODAY, WEDNESDAY, APRIL 20TH
WHERE: CNBC'S "
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche. All references must be sourced to CNBC.
TAUSCHE: NASDAQ HAS MORE MONEY TO BACK ITS NYSE BID THAN THE 3.8 BILLION DOLLARS THAT IT REVEALED YESTERDAY IN ITS PROPOSAL IT ACTUALLY HAS 5.1 BILLION AT ITS DISPOSAL FOR THIS BID. IT SECURED A TOTAL OF 5.1 BILLION FROM THE LENDERS THAT PREVIOUSLY HAD SUPPORTED ITS OMX DEAL THAT TOTAL INCLUDES THE ASSUMPTION OF THE NYSE BONDS THAT COULD BE TRIGGERED IF THE NEW COMPANY IS DOWNGRADED TO JUNK STATUS BELOW TRIPLE B AND FOLLOWING ANY DEAL THAT'S SOMETHING THAT COULD HAPPEN THE REASON FOR THE EXTRA CUSHION IS THAT AND NASDAQ IS JUST MAKING SURE THEY HAVE ENOUGH MONEY TO COVER THERE I AM TOLD THAT ICE'S OWN WALLET TO BUY NYSE'S CLEARING HOUSE TOTALS JUST ABOUT 1.6 BILLION DOLLARS THAT'S FROM BOFA AND WELLS I HAVE MORE OF THIS ON NETNET.CNBC.COM SO CHECK IT OUT.
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