News Breaks |
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| February 22, 2013 |
| 05:34 EDT |  | FRO | Frontline says if tanker market doesn't recover by 2015 it may force restructuring
If the tanker market does not recover before 2015 and no additional equity can be raised or assets sold there is a risk that Frontline will not have sufficient cash to repay the existing $225M convertible bond loan at maturity in April 2015. Such a situation might force a restructuring of the company, including modifications of charter lease obligations and debt agreements. |
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