FRO - Redemption of 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - ISIN NO 001057149.0
April 15 2015 - 2:02AM
Frontline Ltd. (the "Company") announces that the
Company has redeemed the remaining outstanding of USD 93,400,000
under its 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 -
ISIN NO 001057149.0 on maturity date April 14, 2015.
April 14, 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
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Frontline Ltd. via Globenewswire
HUG#1911243
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