COMSTOCK RESOURCES, INC. ANNOUNCES EARLY REDEMPTION OF 7.50% SENIOR NOTES DUE 2025
14 Abril 2022 - 5:15PM
Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK)
announced today the early redemption of all of its outstanding
7.50% Senior Notes due 2025 (CUSIP Nos. 22304LAA8/U2201LAA1; and
ISIN Nos. US22304LAA89/USU2201LAA18) (the "2025 Senior Notes"). The
2025 Senior Notes have an outstanding aggregate principal amount of
$244.4 million and will be redeemed in full on May 15, 2022 (the
"Redemption Date").
In accordance with the terms and conditions set
forth in the indenture governing the 2025 Senior Notes, the Company
will pay the redemption price of 101.875% of the principal amount
of the 2025 Senior Notes for a total of approximately $249.0
million, and will pay any accrued and unpaid interest up to the
Redemption Date.
Notices of redemption of the 2025 Senior Notes
are being sent by the trustee to all currently registered holders
of the 2025 Senior Notes.
The Company expects to fund this redemption by
using cash on hand and borrowings under its revolving credit
facility.
This press release shall not constitute an offer
to sell, a solicitation to buy or an offer to purchase or sell any
securities. No offer, solicitation, purchase or sale will be made
in any jurisdiction in which such offer, solicitation, or sale
would be unlawful.
About Comstock Resources
Comstock Resources is a leading independent
natural gas producer with operations focused on the development of
the Haynesville shale in North Louisiana and East Texas. The
Company's stock is traded on the New York Stock Exchange under the
symbol CRK.
This press release may contain
"forward-looking statements" as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such statements are based
on management's current expectations and are subject to a number of
factors and uncertainties which could cause actual results to
differ materially from those described herein. Although the Company
believes the expectations in such statements to be reasonable,
there can be no assurance that such expectations will prove to be
correct. The Company’s Annual Report on Form 10-K,
subsequent Quarterly Reports on Form 10-Q, recent Current Reports
on Form 8-K, and other documents filed with the
Securities and Exchange Commission discuss
important risk factors that could have a material
effect on the
Company’s business, results of operations and financial condition.
The forward-looking statements in this news release speak
only as of this date. The Company does not
undertake any obligation to revise or update publicly any
forward-looking statement.
Ron Mills
VP - Finance and Investor Relations
Comstock Resources
972-668-8834
rmills@comstockresources.com
Comstock Resources (NYSE:CRK)
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