Detroit says gets $350 mln financing commitment from Barclays
Oct 11 (Reuters) - Barclays will provide cash-strapped Detroit with up to $350 million in debtor in possession financing in the wake of its municipal bankruptcy filing in July, Detroit's top official said on Friday.
Kevyn Orr, the city's state-appointed emergency manager, said the proceeds will be used to make infrastructure investments and will allow Detroit to terminate interest-rate swap agreements at a discount estimated to be more than $60 million.
- Tearful Thai PM urges protesters to take part in election
- Google bus blocked in San Francisco gentrification protest
- North Korea's 'reign of terror' worries South's leader
- Chinese hackers spied on Europeans before G20 meeting: researcher
- Putin dissolves state news agency, tightens grip on Russia media