Detroit Sells $1.3 Billion in Bonds for Post-Bankruptcy Debts
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Detroit sold $1.28 billion in bonds to pay creditors and improve services as it closes its record bankruptcy.
The largest issue yesterday was $632 million to settle debts with bond insurers, unsecured creditors, limited-tax bondholders and for retiree health care, according to Detroit-based bond counsel Miller Canfield Paddock & Stone Plc.