DRYSHIPS ANNOUNCES IT HAS REACHED AGREEMENT WITH COMMERZBANK AND WEST LB ON WAIVER TERMS FOR $70 MILLION OF DEBT
ATHENS, GREECE - November 4, 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
signed an agreement with Commerzbank and West LB on waiver terms for $70 million of
our outstanding debt. This agreement is subject to customary documentation.
George Economou, Chairman and Chief Executive Officer, commented: “We are pleased
to have reached an agreement with Commerzbank and West LB. We are now left with
two facilities with aggregate outstanding debt of $117.5 million, where waiver
agreements are close to finalization”.
DryShips Inc., based in Greece, is an owner and operator of drybulk carriers and offshore oil deep water drilling that operate worldwide. As of the day of this release, DryShips owns a fleet of 39 drybulk carriers comprising 7 Capesize, 30 Panamax and 2 Supramax, 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".
DryShips Inc.