Restructuring of Frontline Ltd.
SIMONSEN has in the last quarter of 2011 assisted the lenders under several syndicated and bilateral loan agreements in relation
to the restructuring of Frontline Ltd.
The work included inter alia a transfer of a total bank debt of approximately USD 666 million from Frontline Ltd. to Frontline 2012 Ltd. and amendments to loan agreements in the aggregated amount of approximately USD 740 million in relation to certain changes to the charter arrangements between Ship Finance International Limited and Frontline Ltd.
All amendments were successfully agreed within the limited deadline. We refer to the following press releases from Frontline Ltd. and Ship Finance International limited:
http://frontline.bm./IR/press_releases/1574508.shtml
http://www.shipfinance.bm/index.php?id=462&pressrelease=1574723.html
Contact person: Peter Aall Simonsen, head of the Finance Department, pas@simonsenlaw or +47 920 23 789.
The work included inter alia a transfer of a total bank debt of approximately USD 666 million from Frontline Ltd. to Frontline 2012 Ltd. and amendments to loan agreements in the aggregated amount of approximately USD 740 million in relation to certain changes to the charter arrangements between Ship Finance International Limited and Frontline Ltd.
All amendments were successfully agreed within the limited deadline. We refer to the following press releases from Frontline Ltd. and Ship Finance International limited:
http://frontline.bm./IR/press_releases/1574508.shtml
http://www.shipfinance.bm/index.php?id=462&pressrelease=1574723.html
Contact person: Peter Aall Simonsen, head of the Finance Department, pas@simonsenlaw or +47 920 23 789.