Cases & Deals

Citibank provides $50 million financing to City of Detroit Police and Fire Retiree Healthcare Trust and City of Detroit General Retiree Healthcare Trust

Clients Citibank, N.A.

Jones Day advised Citibank, N.A. in connection with the negotiation and documentation of $50 million delayed draw term loans provided to two special purpose trusts formed, respectively, by the City of Detroit Police and Fire Retiree Healthcare Trust and the City of Detroit General Retiree Healthcare Trust (the "VEBAs") secured by the VEBAs' $450 million par value City of Detroit Series B Notes received pursuant to the City’s bankruptcy Plan of Adjustment.