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DRYS

DryShips

$5.25

0.92 (21.25%)

09:20
12/01/16
12/01
09:20
12/01/16
09:20

DryShips announces bank update

DryShips announced that a company controlled by George Economou, the company's Chairman and CEO has become the lender of record under its $85.1M Syndicated Loan previously arranged by HSH Nordbank. Following this transaction, entities affiliated by George Economou control the vast majority of the company's debt outstanding with total aggregate principal amount outstanding of $154.5M. The remaining debt, of $16.5 million is associated with third party commercial lenders with which we have either reached or are in discussions to reach, an amicable settlement.

DRYS DryShips
$5.25

0.92 (21.25%)

11/16/16
WELS
11/16/16
NO CHANGE
WELS
Dry bulk/container rally likely to be 'transitory,' says Wells Fargo
Wells Fargo believes that the recent huge rallies in dry bulk/container stocks - including DryShips (DRYS), Diana Containerships (DCIX), and Euroseas (ESEA) - have been driven by short covering and retail investors. The firm expects the rally to be "transitory," and it thinks the upward trend should reverse. However, it does not recommend shorting the stocks at this time, given the strength of the rally.

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