Dryships Cinches Deal to Finance 2 Ultra-Deepwater Drillships
DryShips Inc. announced the closing of a senior secured credit facility of US$1,125 million jointly arranged by Deutsche Bank AG - Global Principal Finance, London and Dexia Crédit Local, New York Branch for the financing of the two ultra-deepwater drillships under construction at Samsung Heavy Industries.
The drillships -- which are designed to drill up to 10,000 feet and 35,000 feet of drilling depth -- are scheduled to be delivered in the third quarter of 2011, as previously announced. Once delivered, the vessels will be operated by Ocean Rig, which was recently acquired by DryShips.
George Economou, Chairman and CEO of DryShips Inc., commented, "I am very pleased with this financing that has been successfully completed despite the tightness of the global credit markets. We appreciate the support shown by all the participating banks of the syndicate and we want to thank them for their commitment shown to DryShips."
Manages 14 Offshore Rigs
- Avenue Capital Urges Ocean Rig To Hire Advisers (Oct 17)
- Rig Contractor Ocean RIG Files For Bankruptcy Protection In US (Mar 28)
- Ocean Rig Acquires an Ultra Deepwater Drillship for $65M (Apr 27)
Company: Samsung Heavy Industries (SHI) more info
- Samsung Wins Mad Dog 2 Fabrication Contract (Jan 05)
- After 20,000 Job Cuts, World's Top Shipyards Brace for More (Oct 26)
- South Korean Yards Restructure, Trim Workforce (Sep 08)
Company: Dryships Inc. more info
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