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Finance & Markets

Brightline Offers 4.75% Equity Stake to Lure Hedge Fund Holdouts

Brightline agreed to give creditors that own its corporate debt at least a 4.75% equity stake in its reorganized business, as well as other incentives, as part of a deal to get the holdouts to back its Chapter 11 restructuring plan.

We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.

Read the original at bloomberg.com →

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EIA Reports Crude Build as Diesel Stocks Fall 14% Below Average

Crude oil inventories in the United States saw an increase of 900,000 barrels during the week ending September 25, according to new data from the U.S.

  • Crude oil inventories rose by 900,000 barrels to 427.3 million barrels
  • Distillate stocks fell 14% below five-year average
  • Total products supplied increased 2.1% year-over-year

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