FRO - Buyback of 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - ISIN NO 001057149.0
(Thomson Reuters ONE) -
Frontline Ltd. (the "Company" or "Frontline") announces that the Company has
through market purchases executed February 12, 2015 bought USD 33,300,000
notional in the 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - ISIN NO
001057149.0 at a purchase price of 99%.
After the purchase, Frontline holds USD 131,600,000 notional representing 58.5%
in the 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - ISIN NO
001057149.0.
February 12, 2015
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
Questions should be directed to:
Robert Hvide Macleod, Chief Executive Officer, Frontline Management AS,
+47 23 11 40 00
Inger M. Klemp, Chief Financial Officer, Frontline Management AS,
+47 23 11 40 00
FORWARD LOOKING STATEMENTS
Matters discussed in this document may constitute forward-looking statements.
The Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements in order to encourage companies to
provide prospective information about their business. Forward-looking
statements include statements concerning plans, objectives, goals, strategies,
future events or performance, and underlying assumptions and other statements,
which are other than statements of historical facts.
Frontline desires to take advantage of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and is including this cautionary
statement in connection with this safe harbor legislation. The words "believe,"
"anticipate," "intends," "estimate," "forecast," "project," "plan," "potential,"
"will," "may," "should," "expect" "pending" and similar expressions identify
forward-looking statements.
The forward-looking statements in this document are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in Frontline's records and other data available from
third parties. Although Frontline believes that these assumptions were
reasonable when made, because these assumptions are inherently subject to
significant uncertainties and contingencies which are difficult or impossible to
predict and are beyond Frontline's control, you cannot be assured that Frontline
will achieve or accomplish these expectations, beliefs or projections. Frontline
undertakes no duty to update any forward-looking statement to conform the
statement to actual results or changes in expectations.
Important factors that, in Frontline's view, could cause actual results to
differ materially from those discussed in the forward-looking statements
include, without limitation: the strength of world economies and currencies,
general market conditions, including fluctuations in charterhire rates and
vessel values, changes in demand in the tanker market, including but not limited
to changes in OPEC's petroleum production levels and world wide oil consumption
and storage, changes in Frontline's operating expenses, including bunker prices,
drydocking and insurance costs, the market for Frontline's vessels, availability
of financing and refinancing, ability to comply with covenants in such financing
arrangements, failure of counterparties to fully perform their contracts with
us, changes in governmental rules and regulations or actions taken by regulatory
authorities, potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption of
shipping routes due to accidents or political events, vessel breakdowns,
instances of off-hire and other important factors. For a more complete
discussion of these and other risks and uncertainties associated with
Frontline's business, please refer to Frontline's filings with the Securities
and Exchange Commission, including, but not limited to, its annual report on
Form 20-F.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Frontline Ltd. via GlobeNewswire
[HUG#1894377]
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2015 - 08:36 Uhr
Sprache: Deutsch
News-ID 371503
Anzahl Zeichen: 5099
contact information:
Town:
Hamilton
Kategorie:
Business News
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