DryShips Subsidiary Secures Loan to Fund Drillship Delivery

5 December 2010 (Last Updated December 5th, 2010 18:30)

DryShips subsidiary Drillships Hydra Owners has signed a commitment letter with an international lender for a $325m loan. The loan will be used for the delivery instalment of the Ocean Rig Corcovado, scheduled for delivery from Samsung Heavy Industries in January 2011. <

DryShips subsidiary Drillships Hydra Owners has signed a commitment letter with an international lender for a $325m loan.

The loan will be used for the delivery instalment of the Ocean Rig Corcovado, scheduled for delivery from Samsung Heavy Industries in January 2011.

Under the terms of the facility, the deal expected to be executed no later than 31 December 2010.