This excerpt taken from the DRYS 6-K filed Aug 10, 2009.
AGREEMENT WITH WEST LB ON WAIVER TERMS FOR $71 MILLION OF DEBT
ATHENS, GREECE - August 10, 2009- DryShips Inc. (NASDAQ:DRYS) (the "Company" or "Dryships"), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has reached agreement with West LB on waiver terms for $71 million of our outstanding debt. This agreement is subject to customary documentation.
George Economou, Chairman and Chief Executive Officer, commented: We are delighted to have reached an agreement with West LB. This facility covers 2 of our drybulk vessels. We continue to have constructive discussions with the remainder of our banks who are all very supportive of the company.