Comstock Resources Inc. - 2016-02-03
Description
Completed a private exchange of 7.75% senior notes due 2019 with a noteholder. For about 4.6 million common shares plus unpaid interest on the notes, the noteholder exchanged $40 million in principal amount of the notes. Comstock reduced its outstanding debt by $40 million and will save $3.1 million in annual interest. When the notes mature, Comstock will save $10.8 million in future interest payments.