Frontline, which is expected to post a loss for the period, has a $190m convertible due in April next year.
Bjorn Kristian Roed, an analyst at Danske Bank, said: “[The] CB is getting closer, meaning Frontline needs to take further action to avoid bankruptcy.
“Frontline has several options to pull out of its sleeve, but these will continue to dilute shareholders, strip the company of valuable assets and reduce operational exposure to expected improved crude tanker markets.”
Roed
