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Investors in troubled oil bonds leaning on banks for rescue

Funds now have to decide to sell their junk-rated debt at deep discounts or wait for possible crude price recovery


INDEPENDENT oil exploration and production companies are leaning heavily on bank credit lines to survive plunging crude prices, making it a nervous time for US funds holding their junk-rated debt.

"The question is, 'How long do the banks keep the heart beating?'" said