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Primelead Facility News

26 Mar 2009

Dryships 4Q & Year End Operating Results

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes, announced its unaudited financial and operating results for the fourth quarter and year ended December 31, 2008. Financial Highlights: For the fourth quarter of 2008, the company reported a loss of $1.02 billion or $18.42 per share. Included in the fourth quarter results are a non-cash loss of $700.5 million or $12.68 per share related to the impairment of goodwill associated with the acquisition of Ocean Rig ASA, a loss related to contract termination fees and forfeiture of vessel deposits of $160.0 million or $2.90 per share, a non cash loss of $177.0 million or $3.20 per share associated with the valuation of the Company’s interest rate swaps…

27 Feb 2009

Dryships Agreement with Nordea Bank

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced 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 $800m Primelead facility consistent with the terms previously announced on February 9, 2009. George Economou, Chairman and Chief Executive Officer said, “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.

11 Feb 2009

Dryships, Nordea Bank Agreement

DryShips Inc. (NASDAQ:DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced on Feb. 9 that it has reached preliminary agreement with Nordea Bank Finland Plc to obtain a covenant waiver in connection with the $800m Primelead facility, which was used to partially finance the acquisition of Ocean Rig ASA. As of today, the outstanding loan amount under the facility is $650m. In accordance with the main terms of the waiver: (i) the company will pay a restructuring fee of 0.15% on the outstanding loan amount under the facility plus an amount equal to 1.00% per annum on the loan outstanding for the period from January 9…