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Volatile DryShips shares rally on new debt agreement

Posted May 28th 2009 10:40AM by Elizabeth Harrow (RSS feed)
Filed under: Good news, Options

Transportation company DryShips Inc. (NASDAQ: DRYS) started the session on a positive note this morning after announcing a new waiver agreement with Deutsche Bank.

DRYS, which is struggling under the weight of a hefty debt burden, said it has reached a pact with Deutsche Bank regarding the waiver terms for a credit facility worth $1.125 billion. The facility covers two drillships that are currently under construction.

"We are delivering the waivers as promised and we hope to conclude discussions with the rest of the lenders in the near future," stated CEO George Economou.

Continue reading Volatile DryShips shares rally on new debt agreement

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Last updated: May 27, 2012: 11:44 PM

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