Lenders agreed to defer Western Union payments.

The company said that 31 lending banks have agreed to defer about $15 million of interest on existing loans through the first quarter of 1985. The banks also made an additional loan of $12 million, due March 28, to the firm’s principal subsidiary, Western Union Telegraph Co. As part of the agreement, Western Union Corp. will issue the banks warrants to purchase 500,000 shares of common stock and, under certain circumstances, warrants to buy an additional 250,000 shares in April.