Swift Energy Company on Dec. 1 said it chosen not to make an $8.9 million interest payment due on some of its senior notes even though it has adequate liquidity to do so.
The skipped interest payment, due that day, does not constitute a default but will become a default if payment is not made in 30 days, the company said.
Swift, a small oil and gas company based in Houston, is in restructuring talks with its bondholders and has hired Lazard to help with its efforts to boost liquidity and seek financing alternatives.
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