DryShips Inc. announced that, it has signed definitive documentation with Sifnos Shareholders Inc. for the previously announced refinancing of the majority of its outstanding debt under the new senior secured revolving facility. Under the terms of the New Revolver, Sifnos has extended a new loan of up to $200.0 million that is secured by all of the company's present and future assets except the MV Raraka. The New Revolver carries an interest rate of Libor plus 5.5%, is non-amortizing, has a tenor of 3 years, has no financial covenants and was arranged with a fee of 2.0%. In addition, Sifnos has the ability to participate in realized asset value increases of the collateral base in a fixed percentage of 30%.