sfy_8k-04302009.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_________________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (or Date of Earliest Event Reported): April 30,
2009
SWIFT
ENERGY COMPANY
(Exact
name of Registrant as specified in its charter)
|
Texas
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1-8754
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20-3940661
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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16825
Northchase Drive, Suite 400
Houston,
Texas 77060
(Address
of principal executive offices)
(281)
874-2700
(Registrant’s
telephone number)
Not
Applicable
(Former
Name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01. Entry into a Material
Definitive Agreement
Effective
May 1, 2009, Swift Energy Company (the "Company") and its wholly owned
subsidiary, Swift Energy Operating, LLC ("Operating"), entered into the Fifth
Amendment to First Amended and Restated Credit Agreement (the "Credit
Agreement") with a syndicate of ten lenders to decrease the borrowing base and
commitment amount to $300 million from the previous borrowing base of $400
million and commitment amount of $350 million. The amendment also
establishes Eurodollar Rate borrowing margins at escalating rates of between 200
and 350 basis points and the Alternative Base Rate borrowing margins at
escalating rates of between 100 and 250 basis points. The Commitment
Fee associated with the unfunded portion of the borrowing base was also set at
50 basis points.
The
facility was arranged by JP Morgan Securities, Inc. as Sole Lead Arranger and
Sole Book Runner. The syndicate of lenders includes Amegy Bank
National Association, Bank of Scotland, BNP Paribas, CALYON, Comerica Bank,
Compass Bank, JPMorgan Chase Bank, NA, Natexis Banques Populaires, Societe
Generale and Wells Fargo Bank, National Association.
The full
text of the press release, dated April 29, 2009, announcing the amendment of the
Credit Agreement, is attached as Exhibit 99 to this Current Report on Form 8-K
and is incorporated by reference herein.
Item
9.01. Financial
Statements and Exhibits
(d) Exhibit.
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Exhibit
Number
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Description
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|
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99
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Swift
Energy Company press release dated April 29, 2009
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: April
30, 2009
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Swift
Energy Company
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By:
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/s/
Bruce H. Vincent
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Bruce
H. Vincent
President
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EXHIBIT
INDEX
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Exhibit
Number
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Description
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99
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Swift
Energy Company press release dated April 29, 2009
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