DryShips gets commitment for $325 million senior secured bridge loan

By Sara Rosenberg

New York, Dec. 2 - DryShips Inc.'s subsidiary, Drillships Hydra Owners, has received a commitment for a $325 million six-month senior secured bridge loan, according to a news release.

Proceeds from the loan will be used to fund the delivery installment of the Ocean Rig Corcovado scheduled for delivery from Samsung Heavy Industries in January 2011.

The bridge loan is expected to be executed by Dec. 31.

DryShips is an Athens-based provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.