Swift Energy calls all 9 3/8% notes

By Jennifer Chiou

New York, May 17 - Swift Energy Co. announced the redemption of its $200 million of 9 3/8% senior subordinated notes due 2012.

The notes will be redeemed at 104.688% plus accrued interest from April 15 to the June 18 redemption date.

The Houston-based oil and gas company will use proceeds from an offering of $250 million of 7 1/8% senior notes due 2017 for the redemption.

Swift said that remaining proceeds will go towards repaying bank debt or for general corporate purposes.

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