STEPAN CO (SCL): debt financing — 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.

item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STEPAN CO incurred senior notes of $37.5 million with NYL Investors LLC at 6.17% maturing May 21, 2033.

Instrument: senior notes
Principal: $37.5 million
Counterparty: NYL Investors LLC
Rate: 6.17%
Maturity: May 21, 2033
Event: incurrence

Exact text from the filing

On May 21, 2025, pursuant to the New York Life Note Purchase Agreement, the related Request for Purchase, dated as of May 14, 2025, made by Stepan to NYL Investors LLC, and the related Confirmation of Acceptance, dated as of May 14, 2025, by and among Stepan and the purchasers named therein (the "Series 2025-B Purchasers"), Stepan issued and sold to the Series 2025-B Purchasers $37.5 million in aggregate principal amount of its 6.17% Senior Notes, Series 2025-B, due May 21, 2033 (the "Series 2025-B Notes").

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STEPAN CO incurred senior notes of $37.5 million with PGIM, Inc. at 6.17% maturing May 21, 2033.

Instrument: senior notes
Principal: $37.5 million
Counterparty: PGIM, Inc.
Rate: 6.17%
Maturity: May 21, 2033
Event: incurrence

Exact text from the filing

On May 21, 2025, pursuant to the Prudential Note Purchase Agreement, the related Request for Purchase, dated as of May 14, 2025, made by Stepan to PGIM, Inc., and the related Confirmation of Acceptance, dated as of May 14, 2025, by and among Stepan and the purchasers named therein (the "Series 2025-A Purchasers"), Stepan issued and sold to the Series 2025-A Purchasers $37.5 million in aggregate principal amount of its 6.17% Senior Notes, Series 2025-A, due May 21, 2033 (together with the Series 2025-B Notes, the "Notes").

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Source: SEC EDGAR

accession 0001193125-25-124025

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