Hi FloydP,
I haven't run the #s, can't help at this time. Here's today's press:
Swift Energy Announces Successful Completion of Debt and Equity Offerings
HOUSTON, July 30 /PRNewswire/ -- Swift Energy Company (NYSE: SFY; PCX) today announced the concurrent sale to the public of $125 million of 10.25% Senior Subordinated Notes Due 2009 at a price of 98.236 percent and 4,000,000 shares of common stock at $9.75 per share.
The aggregate net proceeds from the offerings of approximately $157 million will be used by Swift to repay all outstanding debt under its bank credit facility, with the remaining proceeds to be used along with funds then available under its credit facility for capital expenditures, acquisitions and general corporate purposes.
Salomon Smith Barney, CIBC World Markets, Morgan Stanley Dean Witter, Credit Suisse First Boston, Banc One Capital Markets, Inc., ABN AMRO Incorporated., and SG Cowen were the managing underwriters of the debt offering.
Salomon Smith Barney, CIBC World Markets, Credit Suisse First Boston, Dain Rauscher Wessels, and Jefferies & Company, Inc. were the managing underwriters of the equity offering.
Swift Energy Company is an independent oil and gas company engaged in the exploration, development, acquisition, and operation of oil and gas properties, with a focus on U.S. onshore natural gas reserves. Swift was founded in 1979 and is headquartered in Houston.
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 Swift 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 Swift's business are set forth in the filings of Swift with the Securities and Exchange Commission.
SOURCE Swift Energy Company
CO: Swift Energy Company
ST: Texas
IN: OIL
SU: OFR
07/30/99 09:55 EDT prnewswire.com
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