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October 30, 2011

DryShips secures $141m loan to fund new tanker builds

DryShips has secured a $141m syndicated loan facility from the Export-Import Bank of Korea (Korea Eximbank) and ABN AMRO Bank to part finance the construction of four tankers.

DryShips has secured a $141m syndicated loan facility from the Export-Import Bank of Korea (Korea Eximbank) and ABN AMRO Bank to part finance the construction of four tankers.

The loan was arranged by Korea Eximbank and ABN AMRO Bank.

The loan will be used to partially finance the construction of the Belmar, Calida, Lipari and Petalidi tankers, making the vessels fully financed.

The company said that the four tankers are scheduled to be delivered between the fourth quarter of this year and the first half of 2012.

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