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COMSTOCK RESOURCES INC — Capital/Financing Update 2014
May 9, 2014
30925_rns_2014-05-09_4e463ed3-b7a5-4c09-9de4-99ea5cf9a1a6.zip
Capital/Financing Update
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Issuer Free Writing Prospectus Filed by: Comstock Resources, Inc. Pursuant to Rule 433 under the Securities Act of 1933 Registration Statement No. 333-184848 May 9, 2014
Comstock Resources, Inc.
Pricing Term Sheet
This Pricing Term Sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement, dated May 9, 2014. The information in this Pricing Term Sheet supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus Supplement. Capitalized terms used in this Pricing Term Sheet but not defined have the meanings given them in the Preliminary Prospectus Supplement.
| Issuer: | Comstock Resources, Inc. |
|---|---|
| Guarantee: | Unconditionally guaranteed on a senior basis jointly and severally initially by each of our existing subsidiaries that guarantees indebtedness under our credit facility and by certain of our future restricted subsidiaries |
| Security: | 7 3 / 4 % Senior Notes due 2019 |
| Size: | $100,000,000 |
| Maturity: | April 1, 2019 |
| Coupon: | 7.750% |
| Offering Price: | 105.750% of principal amount, plus accrued interest from April 1, 2014 |
| Yield to worst: | 5.325% |
| Interest Payment Dates: | April 1 st and October 1 st , with next payment on October 1, 2014 |
| Gross Proceeds: | $105,750,000.00 |
| Net Proceeds to the Issuer (before expenses): | $104,000,000.00 |
| Redemption Provisions: | |
| First call date: | April 1, 2015 |
| Redemption prices: | Commencing April 1, 2015: 103.875% |
| Commencing April 1, 2016: 101.938% | |
| Commencing April 1, 2017: 100.000% | |
| Change of control: | Put at 101% of principal plus accrued interest |
| Trade date: | May 9, 2014 |
| Settlement (T+ 3): | May 14, 2014 |
| Denominations: | $2,000 and integral multiples of $1,000 |
| CUSIP: | 205768 AH7 |
| ISIN: | US205768AH73 |
| Form of Offering: | SEC Registered (Registration No. 333-184848) |
| Joint book-running managers: | Merrill Lynch, Pierce, Fenner & Smith Incorporated |
| BMO Capital Markets Corp. | |
| Co-managers: | Comerica Securities, Inc. |
| Mitsubishi UFJ Securities (USA), Inc. | |
| Regions Securities LLC |
| TD Securities (USA) LLC |
|---|
| BBVA Securities Inc. |
| Natixis Securities Americas LLC |
| Scotia Capital (USA) Inc. |
| SunTrust Robinson Humphrey, Inc. |
| BB&T Capital Markets, a division of BB&T Securities, LLC |
| Fifth Third Securities, Inc. |
| Global Hunter Securities LLC |
| ABN AMRO Securities (USA) LLC |
| BOSC, Inc. |
| Capital One Securities, Inc. |
| CIBC World Markets Corp. |
| U.S. Bancorp Investments, Inc. |
| IBERIA Capital Partners L.L.C. |
The issuer has filed a registration statement (including a prospectus and prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting (i) BofA Merrill Lynch, 222 Broadway, New York, NY 10038, attention: Prospectus Department, e-mail [email protected] or by calling 1-800-294-1322 or (ii) BMO Capital Markets at 3 Times Square, 28th Floor, New York, NY 10036, Attention: Maya Patel or by calling (212) 702-1882.