DryShips signs waiver agreement on $70 million of outstanding debt

By Sara Rosenberg

New York, Nov. 4 - DryShips Inc. signed an agreement on waiver terms for $70 million of its outstanding debt, according to a news release.

The agreement was reached with Commerzbank and West LB.

"We are pleased to have reached an agreement with Commerzbank and West LB. We are now left with two facilities with aggregate outstanding debt of $117.5 million, where waiver agreements are close to finalization," said George Economou, chairman and chief executive officer, in the release.

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

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