Daily News: November 26, 2013

BMO Capital Arranges $1B Facility for Comstock

Comstock Resources announced that it entered into a new five-year $1 billion revolving credit facility with a syndicate of 21 banks, replacing its $750 million bank credit facility. BMO Capital Markets arranged the facility.

The new bank facility has an initial borrowing base of $625 million, is secured by substantially all of the company’s producing oil and gas properties and will be administered by the Bank of Montreal.