DESPERATION: BP Dangling Huge Incentives To Bankers For Guarantees Of Raising Money

http://www.businessinsider.com/desperation-bp-dangling-huge-incenti...

As BP prepares to raise $10 billion from the debt markets, the company is apparently pulling out all the stops to get banks to help it.

BP Plc  is on a bankers buying spree, offering several large financial institutions lucrative roles as advisers on financing deals in exchange
for guarantees that they will help the firm raise money in a pinch, FOX
Business has learned.

The troubled oil giant has already hired Goldman Sachs , Credit Suisse  and Blackstone  as advisers, but it is in negotiations to bring aboard Morgan Stanley , HSBC , UBS  and Asian bank Standard
Charter. People at the firm say the sticking point is that they are
being asked to somehow guarantee that they would lend money to the
company.




BP Looking to Protect Itself by Hiring More Banks



BP Plc (BP) is on a bankers buying spree, offering several large financial institutions lucrative roles as advisers on financing deals in exchange for guarantees that they will help the firm raise money in a pinch, FOX Business has learned.


The troubled oil giant has already hired Goldman Sachs (GS), Credit Suisse (CS) and Blackstone (BX) as advisers, but it is in negotiations to bring aboard Morgan Stanley (MS),
HSBC (HBC), UBS (UBS)
and Asian bank Standard Charter. People at the firm say the sticking point is that they are being asked to somehow guarantee
that they would lend money to the company.


A BP spokesman declined to comment on the company's relationship with its banks, and officials at those firms also had no comment. 


Underwriters are often asked to provide multiple financing arrangements, but U.S. securities laws prohibit underwriters “tying” of various assignments,
meaning they cannot offer to make bank loans in exchange for being
hired as an investment advisor. However, the companies themselves can
demand access to bank lines of credit in exchange for hiring on other
assignments, which appears to be the case here.


For BP, however, the access to cash is important for its survival. The massive spill in the Gulf of Mexico and its potential financial impact – Credit Suisse estimates it might cost the company nearly $40 billion—has raised the possibility that the firm might have to file for bankruptcy protection. It has already agreed to a demand from president Obama to set aside $20
billion to cover liabilities stemming from the oil spill.


It’s unclear how BP will raise money to pay for the claims. Sources say it may issue billions of dollars of bonds in the coming weeks as well as
tap bank lines, or do a combination of both. People at the firms say
they haven’t agreed to BP’s terms just yet.


Views: 18

Replies to This Discussion

@ All

I wonder.. I..

I wonder if the management of British Petroleum (BP) ever thought of any other ways of raising funds to pay for the greed and stupid mistake they made with the Gulf oil spill.

If they go to the Banks, we will pay for it. One way or another, we will pay.

I wonder if they (BP) have ever considered going to the Rothschild’s for let's say, a 1 Trillion dollar, $1,000,000,000 or less one time only gift to them and to the world.

You might say, why would the Rothschild’s give British Petroleum 1 Trillion Dollars or any amount as a gift?, to bale them out of a financial bind?

The answer is they owe it to them, or at least to Britain and the British people.

A great portion of their wealth, by their own estimate to be above 600 Trillion, most of it in GOLD, came from their dealings with the British people. Europe, and the world too, but the British were their best customers back then.

Why do they owe the British anything?, let alone a Trillion dollars, or more.

Because they stole it from them......

Fact : In the time of war, the Rothschild’s loan(ed) money to the combatants to stage the war, usually both sides so it doesn’t matter who wins, they profit from the war(s).

Fact : At the time of the war between the French and the English, and...the rest of Europe..., the Rothschild’s controlled most all of the mails, (if someone wanted to send a letter or a communiqué to someone in another city or another country the letter(s) were passed by hand to a 'Pony Express' type rider or coach and it was delivered post haste to the recipient.)

Fact : Napoleon and the French Army lost the war, its a historical fact. Wellington defeated him at a place called Waterloo.

Fact : The Rothschild’s controlled the mails.

Fact : The mails were always opened and read by the..... (in case the dispatch was lost, so that the rider could deliver a verbal message).

Fact : Wellington or and aid dispatched a dispatch stating the war was over, and Wellington had defeated Neapolitan and the French.

Fact : When the first dispatch was received and read in London hours later, it read

"Neapolitan has defeated Wellington at Waterloo".

Fact: Somebody altered the message. The Rothschild’s were in control of the Mails and the message WAS changed to :

"Neapolitan has defeated Wellington at Waterloo"

Fact : It was one whole day before the real truth was known.

Fact : The English Stock Market collapsed.

Fact : Millions of Pounds were lost by Nobles and commoners alike.

Fact : The Rothschild’s were ready and willing to buy up every stock that crashed at (pennies on the (Dollar), (pence on the Pound) whatever. They were only too glad to help save the ... from total bankruptcys
Fact : What they did should be considered a crime even though it occurred in the past.

Fact : It may be possible to lay charges against the Rothschild’s even at this late time.

Fact : Compounding the interest on the amount they stole in England during that one day back then should more than equal the 1 Trillion Dollars, Euros, whatever I claim they should give as a
one time gift to British Petroleum (BP) to help them and save us paying the banks for their borrowing to save themselves..

May I repeat……

I wonder if they (BP) have ever considered going to the Rothschild’s for let's say, a 1 Trillion dollar, $1,000,000,000 one time only gift to them and to the world.

You might say, why would the Rothschild’s give British Petroleum 1 Trillion Dollar or less as a gift?, to bale them out of a financial bind?

The answer is they owe it to them, or at least to Britain and the British people.

Larry from Toronto

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