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.