Swift Energy calls $92.9 million of 10¼% notes

Pittsburgh, July 1 - Swift Energy Co. will redeem all $92.9 million of its outstanding 10¼% senior subordinated notes due 2009 at a price of $1,051.25 per $1,000 principal amount plus accrued interest.

The redemption date is Aug. 1.

The notes will be redeemed using proceeds from the company's recent 7 5/8% senior notes offering and borrowings from its bank credit facility.

Swift will record about a $6.8 million pre-tax third quarter early extinguishment of debt charge for the redemption premium and remaining unamortized debt issuance costs and discounts.

Swift is a Houston-based company that develops, explores, acquires and operates oil and gas properties.

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