John Fredriksen-controlled tanker owner Frontline has finalised a $544m sale-and-leaseback financing deal to fund its acquisition of 10 suezmaxes from Trafigura.
The company had said in its fourth quarter results last week that the transaction with China's ICBC Leasing (ICBCL) was close to being agreed.
The financing is for seven years at interest of Libor plus 2.3%.
