The five-year term $170m facility from Nordea will be used to finance nine dry bulk vessels.
“On the back of the firm commitment from ABN AMRO for a bridge facility, we are also pleased to announce yet another commitment from a first class international bank, Nordea Bank,” said George Economou, chairman and ceo of Dryships.
“This financing is another major milestone as it provides over $100m which will be used towards the refinancing of the $700m convertible notes maturing on 1 December 2014. We are confident that the remaining funds required to fully refinance the convertible notes will be raised prior to their maturity.”
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