Dec 15 (Reuters) - DryShips Inc -
* New loan will carry an interest rate of libor plus 5.5%, is non-amortizing, has a tenor of 3 years, has no financial covenants and will be arranged at a cost of 2.0%
* Agreement with sifnos shareholders was approved by company’s independent members of board
* Sifnos will extend new loan of up to $200.0 million secured by co’s present,future assets except MV Raraka
* Reached an agreement with sifnos shareholders inc for refinancing of majority of its outstanding debt under a virtue of a new senior secured revolving facility
* Reached agreement with sifnos shareholders for refinancing of majority of its outstanding debt under a virtue of new senior secured revolving facility
* Sifnos will have ability to participate in realized asset value increases of collateral base in a fixed percentage of 30%.
* Dryships announces comprehensive refinancing, de-leveraging and strategic repositioning Source text for Eikon: Further company coverage: