Comstock Resources Inc. (NYSE: CRK) will redeem all of its outstanding 8?% senior notes due 2017.
The aggregate principal amount outstanding of the notes is $298 million. The redemption price for the notes is 104.188% of the principal amount or $310 million plus accrued and unpaid interest. The redemption of the notes is scheduled to occur on Oct. 15. The company intends to fund the redemption with cash on hand and available borrowings under its bank credit facility. At June 30, Comstock had $883 million in total debt. The annual interest payable on the outstanding 8?% senior notes was $25 million.
The Bank of New York Mellon Trust Co. is the trustee and paying agent.
Comstock Resources Inc. an independent energy company engaged in the acquisition, development, exploration, and production of oil and natural gas properties in the U.S. The company is headquartered in Frisco, Texas.
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