Shares News - (NASDAQ:DRYS) Shares fall as it Offers $300 mln in notes

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DryShips Inc. (NASDAQ:DRYS) fell 2.50% to $6.86 after Greek drybulk shipping and contract drilling company DryShips Inc (DRYS.O) said it is offering $300 million in notes to acquire vessels and increase working capital.

The company said the underwriter will also have an over-allotment option of $45 million in notes.

Deutsche Bank Securities is the sole book-running manager for the offering.

The drybulk carrier said it also intends to enter into a share lending agreement with Deutsche Bank AG, under which it will loan to Deutsche Bank AG shares of its common stock having a market value of about $150 million.

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