DryShips said it reached a deal with one of its lenders to settle its outstanding loan obligations, after a nine-month standstill on repaying its debt.
The lender, which was not identified, agreed to write off 50% of the outstanding principal and interest due in the settlement agreement.
The bulker and offshore vessel owner said it repaid approximately $8.2m on the principal and will have to pay any additional amount of $2m over the next nine months as part of the the deal.
DryShips,
