Updated from 1:53 p.m. EST
announced Monday it had reached a preliminary agreement with Nordea Bank Finland Plc to obtain a covenant waiver in connection with its $800 million Primelead loan, which was used to partially finance the acquisition of
As of Monday, according to DryShips, the outstanding loan amountunder the Primelead facility is $650 million.
The agreement is subject to formal approval by the company and by syndicate banks
Nordea Bank Finland
DnB NOR Bank
Last week, DryShips shares rallied after the company said it had reached an
with Piraeus Bank to restructure two loan facilities totaling $220 million with $164.9 million currently outstanding.
Shares of DryShips were rising 9.6% to $6.77 in recent trading.
Elsewhere in the shipping space,
Eagle Bulk Shipping
were rising 9.2% to $8.59,
Excel Maritime Carriers
was up 9.4% to $8.85,
was up 6.7% to $21.70, and
was up 2.7% $17.08.