Oslo-listed Frontline has been warning of issues with the repayment for some time but this morning said it was confident the issue has been addressed.
A string of transactions, an at-the-market offering and an upturn in the crude tanker market have all helped the shipowner tackle the $190m convertible.
“Based on existing cash resources, cash expected to be generated from operations and monetizing or borrowing against shares in Frontline 2012, the board is confident that Frontline will be able to repay all of its convertible bond loan in April 2015,” its quarterly report said.
Its
