DryShips says Economou-controlled company has become a lender of record

Economou

DryShips announced CEO George Economou has become the lender of record under the $85.1 million syndicated loan previously arranged by HSH Nordbank.

Following the deal, entities affiliated by CEO G. Economou control the vast majority of debt outstanding, with the total principal amount outstanding of $154.5 million.

Remaining debt is associated with third party commercial lenders with which the company has reached or is in discussions to reach an amicable settlement.

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