Frontline Announces Bond Purchase
Bermuda’s Frontline Ltd. today [Mar.6] announced that the company’s subsidiary Bandama Investment Ltd. has through market purchases executed March 5, 2012 bought USD 10,000,000 notional in the 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 – ISIN NO 001057149.0 at a purchase price of 54%.
After the purchase, Frontline holds USD 10,000,000 notional representing 4.4% in the 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 – ISIN NO 001057149.0.
Frontline Ltd. is one of the world’s largest oil tanker shipping companies.
Based in Hamilton and controlled by Norwegian-born shipping tycoon John Fredriksen, its primary business is transporting crude oil. The company has one of the world’s largest tanker fleets consisting of Very large crude carriers [VLCCs], Suezmax and Ore-bulk-oil carriers.
