THE WALL STREET JOURNAL
JUNE 25, 2010
By Chris Dieterich Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Oil giants are ramping up their borrowing, braving higher interest rates in order to lock down funding as a hedge against further turmoil in their industry or in credit markets, traders and analysts said.
Facing possible further legislative or market turmoil from the ramifications of BP PLC’s (BP, BP.LN) efforts to deal with an oil spill in the Gulf of Mexico and the need to refinance current bond offerings when they come due later this year, companies in the energy sector are trying to get their balance sheets in order now in case credit markets tighten further in the future.
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