UPDATE 1-DryShips inks deal on waiver terms with Deutsche Bank

* Signs agreement with Deutsche Bank-led syndicate * Agreement on waiver terms for $1.13 bln credit facility

June 9 (Reuters) - Dry bulk shipper DryShips Inc (DRYS.O) said it signed a waiver agreement with a syndicate led by Deutsche Bank on the nearly $1.13 billion facility that covers two drillships currently under construction.

The company did not disclose the terms of the agreement.

Last month, DryShips had said it reached an agreement on waiver terms for the credit facility with the bank.

"We are pleased to have signed this agreement with the syndicate. We remain focused on the execution of our strategy to further strengthen our balance sheet and position the company for acquisitions," Chief Executive George Economou said in a statement.

Shares of the company were trading up more than 2 percent at $7.25 in morning trade on Nasdaq. (Reporting by Hezron Selvi in Bangalore; Editing by Anil D'Silva)