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OFFON

FRONTLINE LTD.

(FRO)
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Frontline Ltd. Enters into Term Loan Facilities

11/24/2020 | 07:30pm EDT

Frontline Ltd. announced that in November 2020, the Company entered into a senior a secured term loan facility with a number of banks in an amount of up to $250.7 million, to refinance an existing loan facility maturing in April 2021. The new facility matures in May 2025, carries an interest rate of LIBOR plus a margin of 190 basis points and has an amortization profile of 18 years counting as from delivery date from yard. The facility was fully drawn down in November 2020 and $236.8 million of the refinanced facility has been recorded as long-term debt as at September 30, 2020. In November 2020, the Company entered into a senior a secured term loan facility with ING and Credit Suisse in an amount of up to $100.8 million, to refinance an existing loan facility maturing in June 2021. The new facility matures in November 2025, carries an interest rate of LIBOR plus a margin of 190 basis points and has an amortization profile of 17 years counting as from delivery date from yard. The facility was fully drawn down in November 2020 and $78.6 million of the refinanced facility has been recorded as long-term debt as at September 30, 2020. In November 2020, the Company entered into a senior secured term loan facility with CEXIM and Sinosure in an amount of up to $133.7 million to partially finance the remaining cost of $142.3 million for four LR2 tankers under construction. The facility will have a tenor of 12 years, carries an interest rate of LIBOR plus a margin in line with the Company's other loan facilities and will have an amortization profile of 17 years counting from delivery date from the yard.


ę S&P Capital IQ 2020
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG 0.92% 9.386 Delayed Quote.-19.35%
FRONTLINE LTD. 4.32% 8.45 Delayed Quote.35.85%
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Analyst Recommendations on FRONTLINE LTD.
More recommendations
Financials (USD)
Sales 2021 392 M - -
Net income 2021 -17,0 M - -
Net Debt 2021 2 256 M - -
P/E ratio 2021 -56,3x
Yield 2021 0,47%
Capitalization 1 673 M 1 673 M -
EV / Sales 2021 10,0x
EV / Sales 2022 5,54x
Nbr of Employees 84
Free-Float 49,1%
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Technical analysis trends FRONTLINE LTD.
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 8,45 $
Average target price 8,02 $
Spread / Average Target -5,09%
EPS Revisions
Managers and Directors
Lars H. Barstad Chief Executive Officer
John Fredriksen Chairman & President
Inger Marie Klemp Chief Financial Officer
Ola Lorentzon Independent Director
James O'Shaughnessy Independent Director
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