Shares of Rentech Inc. rose 9 percent Friday after the developer of synthetic fuels and chemicals said it reached an agreement with lenders to amend a $53 million loan for its fertilizer products business.

Los Angeles-based Rentech said it paid $450,000 in fees and issued almost 5 million warrants to lenders in exchange for the amendment to the Rentech Energy Midwest Corp. loan, which eases liquidity requirements and reduces mandatory prepayments.

The interest rate will increase one percentage point as a result of the amendment, the company said.

“These modifications, together with our recent cost reductions, lead us to project that our business plan for fiscal year 2009 will be funded by cash generated at REMC,” Chief Financial Officer Dan Cohrs said in a statement.

Rentech shares closed up 6 cents to 70 cents on the NYSE Alternext exchange. The stock was one of the biggest movers in the LABJ 200 index on an otherwise down trading day for local stocks.