Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Swift Energy Co. > News item |
Swift Energy readies launch of $640 million term loan for Wednesday
By Sara Rosenberg
New York, June 23 – Swift Energy Co. is scheduled to hold a bank meeting at 11 a.m. ET on Wednesday to launch a $640 million five-year first-lien term loan, according to a market source.
J.P. Morgan Securities LLC is the lead arranger on the deal.
Proceeds will be used to repay all outstanding borrowings under the company’s existing revolving credit facility, which was $263 million at May 31, and for general corporate purposes, including capital expenditures.
Closing is expected in mid-July, subject to, among other things, successful syndication, negotiation, execution and delivery of definitive loan documentation, and various customary conditions.
Swift Energy is a Houston-based developer, explorer, acquirer and operator of oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.