Comstock Resources, Inc. Announces Pricing of $100 Million Offering of Additional 7-3/4% Senior Notes due 2019

$100 MILLION OFFERING OF
ADDITIONAL 7-3/4% SENIOR NOTES DUE 2019
FRISCO, TEXAS, May 9, 2014 - Comstock Resources Inc. ("Comstock" or the
"Company") (NYSE: CRK) announced today that it has priced a $100 million in
aggregate principal amount of its 7-3/4% Senior Notes due 2019 (the "Additional
Notes"). The Additional Notes are being offered as additional notes to the
Company's outstanding $300 million aggregate principal amount of 7-3/4% Senior
Notes due 2019, which the Company sold in a public offering in March 2011.
The Additional Notes will be sold at a price equal to 105.750% of par, resulting
in a yield to worst of 5.325% with respect to the Additional Notes. Comstock
intends to use the net proceeds of the offering to repay outstanding borrowings
under its bank credit facility. Comstock expects to close the offering on May
14, 2014, subject to the satisfaction of customary closing conditions.
BofA Merrill Lynch and BMO Capital Markets are acting as joint book-running
managers, with Comerica Securities, Mitsubishi UFJ Securities, Regions
Securities LLC, TD Securities, BBVA, Natixis, Scotiabank, SunTrust Robinson
Humphrey, BB&T Capital Markets, Fifth Third Securities, Global Hunter
Securities, ABN AMRO, BOSC, Inc., Capital One Securities, CIBC, US Bancorp and
IBERIA Capital Partners L.L.C. acting as co-managers.
The offering may be made only by means of a prospectus and related prospectus
supplement, copies of which may be obtained on the Securities and Exchange
Commission's website at www.sec.gov. Alternatively, the underwriters will
arrange to send you copies of the prospectus supplement and the base prospectus
if you request by contacting (i) BofA Merrill Lynch, 222 Broadway, New York, NY
10038, attention: Prospectus Department, e-mail dg.prospectus_requests@baml.com
or by calling 1-800-294-1322 or (ii) BMO Capital Markets Corp. at 3 Times
Square, 28th Floor, New York, NY 10036, Attention: Maya Patel or by calling
(212) 702-1882.
This press release is neither an offer to sell nor a solicitation of an offer to
buy any securities and shall not constitute an offer, solicitation or sale in
any jurisdiction in which such offer, solicitation or sale would be unlawful.
Such an offer can only be made by delivery of a prospectus that has been filed
with the Securities and Exchange Commission. The offering is being made
pursuant to an effective shelf registration statement filed with the Securities
and Exchange Commission.
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.
Comstock Resources, Inc. is a growing independent energy company based in
Frisco, Texas and is engaged in oil and gas acquisitions, exploration and
development primarily in Texas and Louisiana. The Company's stock is traded on
the New York Stock Exchange under the symbol CRK.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Comstock Resources Inc. via GlobeNewswire
[HUG#1784333]