UPDATE 2-Yell extends deadline for lending agreement

* Extends deadline to Oct. 26

* Says has received good response from lenders

* Shares up 0.3 percent

(Adds shares, details)

LONDON, Oct 19 (Reuters) - British Yellow Pages publisher Yell Group Plc (YELL.L) extended the deadline for lenders to agree to its refinancing plans after an initial favourable response, it said on Monday. Yell, battling an advertising slump as it negotiates a structural shift from print to online publishing, said it had extended the deadline to Monday, Oct. 26.

Yell needs support from 95 percent of its 200-plus lenders to allow the deal to go ahead.

If approved, the deal would extend the maturity on Yell's 4 billion pounds ($6.5 billion) debt and amend covenants to allow an equity issue of 500 million pounds to go ahead, in return for partial repayment and increased interest margins.

"We are delighted to have had such a positive endorsement of our proposals from so many of our lenders," Chief Financial Officer John Davis said in a statement.

"This is a massive logistical exercise as we have a very large number of lenders, and we are pleased that so many have been able to respond in time.

"We are now extending the deadline to allow the remaining lenders more time to process our request through their credit committees."

Yell shares, which have risen over 90 percent in the last two months on hopes of the refinancing, were up 0.3 percent at 61 pence a share at 11.10 GMT. (Reporting by Kate Holton; Editing by David Holmes) ($1 = 0.6135 pound)