CPG amends loan to push out maturity, remove excess cash flow sweep

By Sara Rosenberg

New York, July 28 - CPG International Inc. amended its term loan, extending the maturity to April 30, 2012 from Feb. 28, 2011 and removing the excess cash flow sweep, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Also, the term loan amortization schedule was revised.

Lenders were paid a 25 bps amendment fee.

Wells Fargo is the administrative agent on the deal.

The amendment was completed on July 26.

In addition, on July 22, the company amended its loan and security agreement with Wells Fargo to provide for an exception from the requirement to deliver control agreements with respect to certain deposit accounts and waive any technical default as a result of the failure to deliver such control agreements.

CPG is a Scranton, Pa.-based supplier of low maintenance building products.

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