Financing ·
Stepan Company establishes $500 million in committed credit facilities to replace previous arrangement
SCLStepan Co
Stepan Company entered into a new Credit Agreement on September 25, 2026, establishing $500 million in committed credit facilities to replace its previous $450 million arrangement. The new structure includes a $350 million multicurrency revolving credit facility and a $150 million delayed draw term loan, both maturing on September 25, 2031. An expansion option allows for an additional $250 million in incremental financing. Proceeds may be used for working capital, acquisitions, capital expenditures, and general corporate purposes. Interest rates are tied to SOFR or EURIBOR with spreads ranging from 0.125% to 1.625%, depending on the company's net leverage ratio. The agreement imposes standard financial covenants regarding interest coverage and net leverage ratios. Stepan Company operates in the specialty chemicals industry, manufacturing surfactants, emulsifiers, and other chemical products.