Greece's Dryships intends to issue $500 million five-year notes

By Paul A. Harris

Portland, Ore., April 4 - Greece's Dryships Inc. announced in a Monday press release that it plans to place approximately $500 million of five-year senior notes via Rule 144A and Regulation S.

Proceeds will be used to finance Ocean Rig's drillships program and for general corporate purposes.

The Athens-based company is a provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services.

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