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Pride rejigs drill deal
Battle between BP and New York-listed drilling giant squashed as parties agree to amend vessel dayrate.
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Nord LB waives
DryShips said Thursday that it has forged a deal with Nord LB to waive debt covenant breaches.
The Nasdaq-listed bulker and drilling unit owner said the agreement with the German bank covers $116m in outstanding debt.
George Economou
"We continue to have constructive discussions for waivers with the last couple of banks who are all very supportive of the company,” chief executive George Economou said Thursday.
Athens-based DryShips, which owns 41 bulkers and six drilling units including newbuildings, reached a deal with West LB in August to waive covenant violations on $71m in loans.
According to security filings, DryShips inked a credit facility wiht Nord LB for $126m to partly finance the acquisition of the 170,000-dwt Flecha (built 2004).
 DryShips |
| Last | +/- % | +/- | High | |
|---|---|---|---|---|
| USD | 4.32 | -2.26% | -0.10 | 4.45 |
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