Swift Energy Company (
) is down 5.8% at $19.78 after announcing that it plans to offer in
a private offering to eligible purchasers an additional $150
million in aggregate principal amount of its 7 7/8% senior
unsecured notes due 2022. These additional notes will be treated as
a single class of security with the $250 million of 7 7/8% senior
notes due 2022 sold in a private placement on November 30, 2011,
and exchanged for registered notes in May 2012. SFY intends to use
the net proceeds of the offering to repay outstanding indebtedness
on the company's revolving credit facility and for general
SFY trades in a 52-week range of $14.62 - $35.60. Shares have
fallen 9% in the last 12 months.
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