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Strategies & Market Trends : Value Investing
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To: Jurgis Bekepuris who wrote (55728)7/28/2015 9:30:21 PM
From: E_K_S  Read Replies (1) of 78715
 
Swift Energy hires firm to weigh financial options
SFY says it is exploring alternatives to realigning its balance sheet and senior notes, which it contends are trading at levels significantly below face value.
Lazard was hired to advise on what options they have for re-capitalizing debt and/or monetizing some of their hard assets. The firm advises on alternatives to a sale such as recapitalizations, spin-offs, carve-outs and split-offs.
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After finding that their credit facility refinance was too expensive, management is now looking to Lazard for other options. They can probably structure a debt for equity exchange (hopefully w/ low fees) as one of their options. XCO is taking a different route a reverse split on their common and then issuing more shares. SFY does have their Louisiana asset that is on the block w/ no offers. Maybe they can do some type of "carve-out" and sell to a private equity fund/buyer.

That option for SFY is a good option but does not generate fees for Lazard.

EKS
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