Swift Energy extends DIP financing syndication and funding deadlines

By Caroline Salls

Pittsburgh, March 29 – Swift Energy Co. extended the expiration date for its debtor-in-possession credit agreement syndication process to 5 p.m. ET on April 4 from 5 p.m. ET on March 28, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The company also extended the deadline for holders of its 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, as well as holders of rejection claims, to fund their share of outstanding loans to 5 p.m. ET on April 6 from 5 p.m. ET on March 30.

Swift Energy is a Houston-based developer, explorer, acquirer and operator of oil and gas properties. It filed for 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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