HOUSTON--(Business Wire)--
Swift Energy Company (NYSE: SFY) announced today that it intends to offer $200
million of senior notes due 2020 in a public offering. The Company has filed a
preliminary prospectus supplement today with the Securities and Exchange
Commission relating to the offering, which is expected to close later this
month.
Swift Energy intends to use the net proceeds from the offering to redeem all of
the Company`s currently outstanding $150 million of 7 5/8 % senior notes due
2011, with the remainder used to repay a portion of the amount outstanding under
its bank credit agreement ($65.8 million at October 31, 2009). The Company
intends to call its outstanding 7 5/8 % notes for redemption upon pricing of the
senior notes offering, with the redemption to occur 30 days later.
J.P. Morgan Securities Inc., Goldman, Sachs & Co., RBC Capital Markets
Corporation and Wells Fargo Securities are acting as Joint Book-Running Managers
for this notes offering. When available, copies of the preliminary prospectus
supplement and accompanying base prospectus relating to the offering may be
obtained by contacting J.P. Morgan Securities Inc. at 270 Park Avenue, 8th
Floor, New York, NY 10017, Attention: Syndicate Desk or by calling (800)
245-8812; Goldman, Sachs & Co. at 85 Broad Street, New York, NY 10004, Attn:
Prospectus Department or by calling (866) 471-2526; RBC Capital Markets
Corporation at Three World Financial Center, 200 Vesey Street, 9th Floor, New
York, NY 10281-8098, Attention: High Yield Capital Markets or by calling (212)
618-2205; or Wells Fargo Securities at 301 South College Street, 6th Floor,
Charlotte, NC 28202, Attention: High Yield Syndicate or by calling (704)
715-7035. Copies of the preliminary prospectus supplement and accompanying base
prospectus will also be available on the Securities and Exchange Commission`s
website at www.sec.gov.
This press release is neither an offer to sell nor a solicitation of an offer to
buy any securities and shall not constitute an offer, solicitation or sale in
any jurisdiction in which such offer, solicitation or sale would be unlawful.
Such an offer can only be made by delivery of a prospectus that has been filed
with the Securities and Exchange Commission.
Swift Energy Company, founded in 1979 and headquartered in Houston, engages in
developing, exploring, acquiring and operating oil and gas properties, with a
focus on oil and natural gas reserves onshore in Louisiana and Texas and in the
inland waters of Louisiana.
This material includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The opinions, forecasts,
projections, or other statements other than statements of historical fact, are
forward-looking statements. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to have been correct. Certain risks
and uncertainties inherent in the Company`s business are set forth in the
filings of the Company with the Securities and Exchange Commission.
Swift Energy Company
Paul Vincent, 281-874-2700 or
800-777-2412
Manager of Investor Relations
Copyright Business Wire 2009
