On Friday, Swift Energy Company (NYSE:SFY)’s shares declined -6.96% to $2.14.
Swift Energy Company (SFY) declared that it has initiated a process to obtain a new first-lien term loan (the “Projected Term Loan”). The principal amount of the Projected Term Loan is predictable to be $640 million. The loan would mature five years after the closing, which is anticipated to occur in mid-July. The Company anticipates that the Projected Term Loan would be fully drawn at closing.
It is predictable that proceeds of the Projected Term Loan will be used to repay all outstanding borrowings under the Company’s existing revolving credit facility ($263 million outstanding at May 31, 2015), to pay fees and expenses, and for general corporate purposes, counting capital expenditures.
The Projected Term Loan is subject to, among other things, successful syndication, negotiation, execution and delivery of definitive loan documentation, and various customary closing conditions. The terms of the Projected Term Loan could differ materially from those described above. No assurance can be given that the Projected Term Loan will be consummated.
Swift Energy Company, an independent oil and gas company, acquires, explores, develops, and operates oil and gas properties. The company focuses on the Eagle Ford trend of South Texas, in addition to the onshore and inland waters of Louisiana. As of December 31, 2014, it had estimated proved reserves of 193.8 million barrels of oil equivalent. Swift Energy Company was founded in 1979 and is headquartered in Houston, Texas.
Key Energy Services, Inc. (NYSE:KEG)’s shares dropped -1.01% to $1.96.
Key Energy Services, Inc. (KEG) declared that Robert Drummond, age 54, has joined the Company as President and Chief Operating Officer, effective right away. Mr. Drummond was formerly employed by Schlumberger for 31 years, serving in various positions of increasing responsibility counting administration, business development and operations. He most recently served as President of Schlumberger Limited’s North American business unit.
With Mr. Drummond assuming the position of President, Richard J. “Dick” Alario will remain Key’s Chairman and Chief Executive Officer.
Key Energy Services, Inc. operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
At the end of Friday’s trade, VF Corp (NYSE:VFC)‘s shares surged 0.40% to $70.78.
VF Corporation (VFC), a global leader in branded apparel, footwear and accessories, recently declared that Steven E. Rendle, 55, has been designated President & Chief Operating Officer at the company and has been elected to VF’s Board of Directors. He will report to Eric Wiseman, VF’s Chairman and Chief Executive Officer.
In his role as President & Chief Operating Officer, Rendle will oversee all of VF’s business coalitions worldwide: Outdoor & Action Sports, Jeanswear, Imagewear, Sportswear and Contemporary Brands. He will also be responsible for VF’s global Supply Chain and Direct-to-Consumer platforms.
V.F. Corporation designs, manufactures, markets, and distributes branded lifestyle apparel, footwear, and accessories in the United States and Europe. The company offers outdoor apparel, footwear and equipment, youth culture/action sports-inspired footwear, handbags, luggage, backpacks, totes, accessories, merino wool socks, women’s activewear, and travel accessories under the The North Face, Vans, Timberland, Kipling, Napapijri, Jansport, Reef, Smartwool, Eastpak, lucy, and Eagle Creek brands.
ConAgra Foods Inc (NYSE:CAG), ended its Friday’s trading session with 0.34% gain, and closed at $44.00.
ConAgra Foods, Inc., (CAG) one of North America’s leading food companies, will report its fiscal 2015 fourth-quarter results on Tuesday, June 30, 2015. The news release will be issued at about 7:30 a.m. EDT.
ConAgra Foods, Inc. operates as a food company primarily in North America. The company operates through three segments: Consumer Foods, Commercial Foods, and Private Brands. The Consumer Foods segment provides branded food products in various categories, such as meals, entrees, condiments, sides, snacks, and desserts to various retail channels, such as grocery and convenience stores across frozen, refrigerated, and shelf-stable temperature classes. This segment’s principal brands comprise Alexia, ACT II, Banquet, Blue Bonnet, Chef Boyardee, DAVID, Egg Beaters, Healthy Choice, Hebrew National, Hunt’s, Marie Calendar’s, Odom’s Tennessee Pride, Orville Redenbacher’s, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack, Swiss Miss, Van Camp’s, and Wesson.
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