CHICAGO — Detroit may pay more than $4 million in fees to Barclays Capital Inc. to secure a $350 million debtor-in-possession financing.

The financing is divided into two notes that are expected to total $350 million, and Detroit agreed to pay Barclays 1.25% of the principal amount of each note, according to the fee letter submitted Monday to the bankruptcy judge overseeing the city's case, a week after he ordered the disclosure.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.