DryShips Announces It Has Reached Agreement With Deutsche Bank as Lender and Mandated Lead Arranger on Waiver Terms for $1.125 Billion of Debt
ATHENS, GREECE - May 28, 2009- DryShips Inc. (NASDAQ:DRYS) (the "Company"
or "Dryships"), a global provider of marine transportation services for drybulk cargoes
and off-shore contract drilling oil services, announced today that it has reached agreement
on waiver terms with Deutsche Bank AG, lender and Mandated Lead Arranger on $1.125
billion facility. This facility covers drillships hull numbers 1865 and 1866 currently under
construction at Samsung Heavy Industries. This agreement is subject to customary
documentation provisions.
George Economou, Chairman and Chief Executive Officer, commented: “We are pleased
to have reached this agreement on a very important credit facility for DryShips. We are
delivering the waivers as promised and we hope to conclude discussions with the rest of
the lenders in the near future”.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. As of the day of this release, DryShips owns a fleet of 43 drybulk carriers comprising 7 Capesize, 29 Panamax, 2 Supramax and 5 newbuilding Drybulk vessels with a combined deadweight tonnage of over 3.4 million tons, 2 ultra deep water semisubmersible drilling rigs and 4 ultra deep water newbuilding drillships. DryShips Inc.'s common stock is listed on the NASDAQ Global Market where trades under the symbol "DRYS." Visit our website at www.dryships.com
DryShips Inc.