Comstock Resources, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Comstock Resources, Inc. on August 30, 2016. The filing reports a material definitive agreement regarding the administration of the Company's outstanding debt instruments.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt balances, or liquidity ratios. The report focuses exclusively on administrative changes to debt covenants and trustee appointments.
Material Changes
On August 30, 2016, the Company and its subsidiary guarantors executed Instruments of Resignation, Appointment, and Acceptance to replace the trustee for its senior notes. The Bank of New York Mellon Trust Company, N.A. resigned as trustee, and American Stock Transfer & Trust Company, LLC was appointed as the successor trustee. This change applies to the following indentures:
- 10% Senior Secured Notes due 2020 (Secured Indenture dated March 13, 2015).
- 7 3/4% Senior Notes due 2019 (Third Supplemental Indenture dated March 14, 2011).
- 9 1/2% Senior Notes due 2020 (Fourth Supplemental Indenture dated June 5, 2012).
The successor trustee assumed all rights, powers, duties, and obligations as trustee, notes custodian, registrar, and paying agent.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No new risks or contingencies were disclosed in this report; the transaction is a standard administrative substitution of the corporate trust office.
Key Facts for Investor Verification
- Verify the effective date of the trustee transition (August 30, 2016).
- Confirm the new contact address for the Successor Trustee: 6201 15th Avenue, Brooklyn, New York 11219.
- Review Exhibits 4.1 and 4.2 for the full legal text of the resignation and appointment instruments.
- Ensure future interest payments and communications are directed to American Stock Transfer & Trust Company, LLC.