BP to raise $50 billion for oil spill costs: report

BP to raise $50 billion for oil spill costs: report

LONDON (Reuters) - BP (BP.L: Quote, Profile, Research, Stock Buzz) is planning to raise $50 billion to cover the cost of the largest oil spill in U.S. history, London's Sunday Times reported without citing sources. The paper said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.

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As stated in the Reuters piece, this is unconfirmed information, but the $20 Billion from banks is confirmed. The other two legs of the three legged strategy would seem credible even if not confirmed at this point.