debt
confidence high
sentiment neutral
materiality 0.50
Stepan issues $75M in senior notes at 6.17% due 2033
STEPAN CO
- Issued $37.5M Series 2025-A and $37.5M Series 2025-B senior notes, each at 6.17% fixed rate.
- Notes mature May 21, 2033; equal annual principal payments begin May 21, 2029.
- Interest payable semi-annually; prepayment allowed at 100% plus make-whole premium.
- Subsidiaries Stepan Specialty Products and Stepan Surfactants Holdings guarantee the notes.
- Issued under existing shelf agreements with PGIM/Prudential and NYL Investors/New York Life.
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