WARREN, N.J.--Formica Corp.’s lenders under its $345 million credit facility have agreed to extend their existing waiver related to certain financial covenants under the credit facility.

A prior waiver from these lenders was due to expire on Feb. 9. The new agreement from these lenders is effective through Feb. 27.

During this period, Formica will continue its discussions with its lenders in order to formulate a more long-term capital restructuring plan.