The deals were carried out in the open market on Monday at 91.65% of face value, the tanker owner said.
This gives the shipowner $52.8m or 23.5% of the issue.
The 4.5% convertible bonds worth $190m are due in April and Frontline admitted in August it faced a “challenging situation” as it sought a way to meet the final payment
The owner has $1bn in debt and said that, based on the current tanker market outlook, it was “doubtful” whether it could generate sufficient cash from operations to meet its obligation.
It
