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DryShips taps loans to close funding gap after bond fiasco
Add BT as a preferred sourcePublished Tue, Oct 14, 2014 · 09:50 PM
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New York
DRYSHIPS Inc, the drybulk carrier that faces a potential funding shortfall as US$700 million of debt comes due in less than two months, is seeking a bank loan after a bond sale fell through over the weekend.
The shipper would use the loan in addition to sources that include a US$350 million financing from ABN Amro Group, US$100 million available in a credit line from Nordea Bank, cash on hand as well as a funding commitment from chief executive officer George Economou, according to two people with knowledge of the company's plans.
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