Cases & Deals

City of Detroit obtains $120 million post-petition bond financing in chapter 9 proceedings

Clients City of Detroit, The

Jones Day represented the City of Detroit in connection with a $120 million post-petition bond financing in the City's on-going chapter 9 bankruptcy proceedings. The proceeds of the bond financing, which is one of the first of its kind in a municipal bankruptcy proceeding, will be used by the City to make critical infrastructure improvements, invest in key City services, fund blight removal, and to otherwise improve the quality of life of its citizens.