Comstock enters into new $1B bank credit agreement

Comstock Resources Inc.

Comstock Resources Inc. has entered into a new five-year $1 billion revolving credit facility with a syndicate of 21 banks, replacing its $750 million bank credit facility. The new bank facility was arranged by BMO Capital Markets and has an initial borrowing base of $625 million. 

The credit facility is secured by substantially all of the company's producing oil and gas properties and will be administered by the Bank of Montreal.

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