DryShips to Amend Financing Package

Tuesday, June 21, 2011

DryShips Inc., a provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced that it has obtained unanimous consent from its existing syndicate members to amend the $495 million secured term loan facility to allow for full draw downs to finance the remaining costs of the Ocean Rig Mykonos based upon the employment of this drillship with Petrobras for 3 years for drilling offshore Brazil. Furthermore, cash collateral deposited for this drillship will be released. The above is subject to completion of definitive documentation.

George Economou, Chairman and CEO commented: “We are pleased to announce the final financing package for Ocean Rig’s original newbuilding program. As with the Ocean Rig Poseidon, the syndicate of lenders, including Deutsche Bank, have consented to allowing full draw downs to finance the Ocean Rig Mykonos. We thank our bankers and expect similar support for our future financing needs. As a result of the financing transactions concluded in the past several months, Ocean Rig is well positioned to capitalize on further growth opportunities.”

Source: DryShips Inc.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

On USCG Anniversary, Gov. McAuliffe Urges Hurricane Preparedness

Gov. Terry McAuliffe encouraged Virginians to get ready for hurricane season and provided an update on the commonwealth’s preparations Friday at a press conference

Optimized Tug-Barge System Designs by Robert Allan

Optimized Tug-Barge System Designs by Robert Allan Ltd. by David R. Connand Robert G. Allan, P.Eng. Some veteran Mississippi pushboats and barges have been

WKCTC to Host Open House for ILM Institute

West Kentucky Community and Technical College will host an open house and ribbon cutting for the Inland Logistics and Marine Institute August 10 from 4 ­– 6 p.

Finance

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2001 sec (5 req/sec)