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Sky News has exclusively learnt that BP is lining up a £5bn war chest from banks to help meet the costs of the oil spill.
Sky News City editor Mark Kleinman revealed that the company is engaged in talks with some of the world's biggest banks, including HSBC, to meet their financing needs.
He said the funds would be used to cover an expected influx of compensation claims over the coming months.
BP disclosed on Monday that it had already spent $1.6bn (£1.1bn) on controlling the spill.
Source: Sky News Exclusive: BP Lines Up War Chest