The George Economou drilling rig company confirmed late Tuesday that it had made the submission to the US Securities and Exchange Commission (SEC).

News of the IPO comes barely hours after DryShips shelved a $700m bond issue.

Barclays, BofA Merrill Lynch, Credit Suisse, Deutsche Bank, UBS and Raymond James will act as joint book-running managers for the proposed MLP IPO.

Ocean Rig said a registration statement relating to the MLP’s common units has been filed with the SEC but has not yet been declared effective.

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