Swift Energy loan syndication process allows noteholder participation

By Caroline Salls

Pittsburgh, Jan. 11 – Swift Energy Co.’s debtor-in-possession financing syndication process provides noteholders who are not yet DIP lenders to participate in the financing, according to an 8-K filed Monday with the Securities and Exchange Commission.

Holders of the company’s 7 1/8% senior unsecured notes due June 1, 2017, 8 7/8% senior unsecured notes due Jan. 15, 2020 and 7 7/8% senior unsecured notes due March 1, 2022 can participate in the DIP financing under the syndication process.

The deadline for noteholder participation is 5 p.m. ET on Jan. 25.

Swift Energy, a Houston-based developer, explorer, acquirer and operator of oil and gas properties, filed bankruptcy on Dec. 31 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 15-12670.

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