Huttig Building Products, a distributor of millwork, building materials and wood products, amended and extended its $160 million senior secured credit facility.

Wells Fargo Capital Finance served as administrative agent. Bank of America and JPMorgan Chase Bank are lenders under the facility.

The amendment, among other things, increases borrowing capacity from $160 million to $250 million, reduces interest rate charges and extends the facility for five years from the execution date, to July 14, 2022.

The amended facility may be increased to $300 million through an uncommitted $50 million accordion feature.

Pricing for the amended facility is based on LIBOR plus 125 to 175 basis points, depending on levels of average borrowing availability. Under the prior facility amendment, pricing was at LIBOR plus 150 to 225 basis points.

“Our amended credit facility allows us to continue implementing our investment strategy,” said Oscar A. Martinez, Huttig vice president and CFO. “While the facility did not expire until 2019, the increased size and extended maturity provides the capital structure flexibility to fuel our continued growth. We are pleased to continue our relationship with Wells Fargo, Bank of America and JPMorgan who have been valued lending partners.”