Swift Energy to repurchase 10¼% notes with new deal proceeds

New York, June 9 - Swift Energy Co. (B3/B) announced plans to sell $150 million of senior notes due 2011 in a public offering and said that it would use the proceeds of the offering to repurchase its outstanding $125 million of 10¼% senior subordinated notes due 2009, which the company had issued in July 1999.

Swift, a Houston-based independent oil and gas exploration and production company, said, it would repurchase the 10¼% notes either through a tender offer or redemption or a combination thereof.

It gave no timetable for the anticipated repurchase of the notes but said that it expected the new senior note offering to be completed some time in June with Credit Suisse First Boston acting as book-running manager for the offering.

© 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.