$500 Million Credit Facilities Secured by Stepan Co.

Stepan Co. has secured $500 million in new credit facilities to be used for working capital, acquisitions, and general corporate purposes. The agreement includes a $350 million multicurrency revolving facility and a $150 million delayed draw term loan, both maturing on September 25, 2031.

The facilities carry variable interest rates based on Stepan's net leverage. Additionally, the company has an option to expand the credit line by another $250 million if needed. This new agreement replaces the existing 2022 revolving and delayed draw facilities, aiming to enhance liquidity for working capital and growth.

The agreement is signed with JPMorgan Chase Bank, Bank of America, and other lenders. It will last for five years and can be terminated as specified in the agreement details.