Frontline Ld Fro - Buyback Of 4.50 % Frontline Ltd. Convertible Bond Issue 2010/2015 - Isin No 001057149.0
February 13 2015 - 2:37AM
UK Regulatory
TIDMFRO
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 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#1894377
http://www.frontline.bm/
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