TROY, Mich. — A new report from the Detroit Free Press says that Delphi has been granted permission to increase the size of its bankruptcy loan by $245 million, bringing the auto parts maker’s total bankruptcy financing to $4.35 billion.
The move was approved by Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan, who is handling Delphi’s Chapter 11 case. According to the report, Delphi asked for the increase after a larger than expected number of investors signed up to buy pieces of it when it was syndicated.