WHEN: Today, Friday, November 18th
WHERE: CNBC's "Options Action"
Following is the unofficial transcript of breaking news from CNBC's Kayla Tausche. All references must be sourced to CNBC.
KAYLA TAUSCHE: WELCOME BACK TO "OPTIONS ACTION" I'M KAYLA TAUSCHE. LIVINGSOCIAL SET TO CLOSE A NEW ROUND OF PRIVATE CAPITAL EARLY NEXT WEEK. THIS WILL BE AN ALTERNATIVE TO AN IPO IN THE NEAR TERM. THE DEAL IS COMPRISED OF BOTH FRESH EQUITY AND ALSO A CREDIT FACILITY. SOURCES TELL ME THE EQUITY PIECE IS STILL A MOVING TARGET, BUT SAID TO HOVER AROUND 200 MILLION DOLLARS. SOURCES TELL ME JPMORGAN IS ARRANGING DEBT OF AROUND 100 MILLION DOLLARS. THE BANK, FOR ITS PART, DECLINED TO COMMENT AS DID LIVINGSOCIAL. NOW SOURCES SAY THAT CAPITALS COMMITTED BY BOTH NEW AND EXISTING INVESTORS -- NEW INVESTORS COMING FROM JPMORGAN'S ASSET MANAGEMENT UNIT -- A DIGITAL GROWTH FUND IT RAISED EARLIER THIS YEAR TO INVEST SOLELY IN SOCIAL MEDIA. SOURCES TELL ME AMAZON, WHICH OWNS ABOUT A THIRD OF LIVINGSOCIAL, AND T. ROWE PRICE HAVE BOTH RECOMMITTED CAPITAL. MARKET CONFIDENCE COMING ON THE BACK OF GROUPON'S IPO WAS SAID TO HELP VALUATION DISCUSSIONS AND EXPEDITE THE FUNDRAISING AND IPO AS WE SAID, ISN'T OFF THE TABLE, BUT THIS IS CERTAINLY THE ALTERNATIVE FOR NOW.
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