Norwegian tanker giant Frontline has completed a series of loan deals worth $921m as it draws the line under its purchase of 24 VLCCs from Euronav.

The John Fredriksen company said 24 suezmaxes and LR2s have been refinanced through transactions in Norway, Germany and China.

The deals will allow the owner to repay major shareholder John Fredriksen, who contributed cash to enable the $2.35bn