UPDATE 1-NCI Building says lenders OK credit refinancing deal
* Says gets consent from two-thirds of lenders
* Amendment to involve repayment of $143 mln of debt
* Amendment to modify terms of $150 mln of debt * Says extends offer to retire 2.125 pct notes
Oct 8 (Reuters) - Metal building components maker NCI Building Systems Inc (NCS.N) said it received consents from lenders holding over two-thirds of its senior secured debt for the refinancing of its existing credit facility. The company said the refinancing will involve repayment of around $143 million and a modification of the terms and maturity of the remaining $150 million of debt.
The terms of the term loan refinancing will be modified to increase the interest rate by 1 percent and to pay a 2 percent consent fee on the full current outstanding balance of the loan to lenders that execute the restated credit agreement prior to Oct. 19.
NCI also said it has extended its exchange offer to retire all of its existing 2.125 percent convertible senior subordinated notes due 2024 to Oct. 19 from Oct. 7.
The company, which serves the low-rise, non-residential construction market, has been seeking financial restructuring measures since September.
Shares of the Houston-based company were up 2 percent at $2.84 Thursday morning on the New York Stock Exchange. They rose as much as 5 percent to $2.93 earlier in the session. (Reporting by Divya Sharma in Bangalore; Editing by Unnikrishnan Nair)
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