Swift Energy proposes new senior secured term loan

Swift Energy Co. (NYSE: SFY) has initiated a process to obtain a new first-lien term loan. The principal amount of the proposed term loan is expected to be $640 million. The loan would mature five years after the closing, which is anticipated to occur in mid-July, with the term loan fully drawn at closing.

Proceeds of the term loan will be used to repay all outstanding borrowings under the company’s existing revolving credit facility ($263 million outstanding at May 31), to pay fees and expenses, and for general corporate purposes, including capital expenditures.

JP Morgan Securities LLC is acting as lead arranger for the proposed term loan.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...