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Detroit gets $275 million financing from Barclays

By Washington Examiner
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DETROIT (AP) — Detroit’s state-appointed emergency manager says Barclays PLC will provide $275 million to fund the city’s exit from bankruptcy.

Emergency manager Kevyn Orr’s office said Thursday the money will be used to pay off a $120 million loan. It will also fund city revitalization efforts and some creditor claims.

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Budgets and Deficits Detroit Michigan