DryShips Inc. has reached final agreement and received formal approval from Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG.
DryShips Inc., a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced yesterday that it has reached final agreement and received formal approval from Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG regarding the previously announced covenant waiver in connection with the $800 million Primelead facility consistent with the terms previously announced on February 9, 2009.
George Economou, Chairman and Chief Executive Officer, commented:
"We are delighted to have reached a definitive agreement with the three lenders on the Primelead facility. This agreement is a testament of the support of Nordea Bank Finland Plc, DnB NOR Bank ASA and HSH Nordbank AG to DryShips. These three lenders acting as agents or direct lenders represent 75% of the total loans outstanding of the Company."
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 2 ultra deep water newbuilding drillships.