UPDATE 1-DryShips inks deal on waiver terms for $70 mln of debt
* Agreement with Commerzbank and West LB
* Deal on waiver terms for $70 mln of outstanding debt * Stock up 1 pct
Nov 4 (Reuters) - Drybulk shipping and contract drilling company DryShips Inc (DRYS.O: Quote, Profile, Research) said it signed an agreement with Commerzbank and West LB on waiver terms for $70 million of outstanding debt.
"We are now left with two facilities with aggregate outstanding debt of $117.5 million, where waiver agreements are close to finalization," Chief Executive George Economou said in a statement.
In October, the company reached an agreement with lenders Nord LB and West LB on waiver terms for $183 million of debt. [ID:nBNG457658].
Shares of the company were up 1 percent at $6.17 in morning trade on Nasdaq. (Reporting by Hezron Selvi in Bangalore; Editing by Aradhana Aravindan)
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