ORIG/DRYS.
OK.. now we get the rest of the story re the latest offering. As you read this keep in mind what is good for ORIG is good for drys.
You will see the date the offering will be completed. I.E. 3/26/2014
And that the proceeds will be used to buy back previous ones that were offered for 9.5 and now will be 7.25. Think of it as simple restructuring and buying a few more years from 2016 to 2019 before it has to be addressed. Bottom line.. COOOOOOOL
As for drys stock zzzz tomorrow is options expiration so who knows
Not me. Just stay focussed on 2014/2015/2016. My work supports a much higher drys target
Finally, how come DA CHIEF who pushes DRYS stock and BDI doesn't put this stuff up. And why are there those lurking who buy on his pump on HIS board on this board reading what TOCO and myself provide. Instead of asking me PM.. ASK HIM!!!!! Oh that's right ya got to PAY FOR IT..
Bottom line, if the sage can pump it, he sure as heck can SUPPORT it.. with other than the to the moon crap btfd, and 3 days of fear for the price of one. Would someone get him a new script. GEESH.
Fintas
ATHENS, GREECE--(Marketwired - Mar 20, 2014) - DryShips Inc. (NASDAQ: DRYS) (the "Company" or "DryShips") a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. ("Ocean Rig"), of offshore deepwater drilling services, today announced that Ocean Rig priced its previously announced offering of $500 million in aggregate principal amount of Senior Notes due 2019 (the "Notes"). The Notes were priced at 100% of par, with a stated interest rate of 7.250%. The Notes are being sold in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act. The sale of the Notes is expected to be consummated on March 26, 2014, subject to customary closing conditions.
Ocean Rig intends to use the net proceeds from the offering of the Notes together with other available funds to fund the repurchase or redemption of its 9.5% Senior Unsecured Notes due 2016, for which it is conducting a concurrent tender offer, and to pay related fees.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.
The Notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act. Less |
