Stepan enters $450M credit facility with $350M revolver and $100M delayed draw term loan

STEPAN CO

$450M credit facilities: $350M multicurrency revolving and $100M delayed draw term loan, maturing June 24, 2027.
Expansion option allows up to $250M additional credit subject to conditions.
Replaces prior $350M revolving credit agreement from January 2018.
Proceeds for working capital, permitted acquisitions, capex, and general corporate purposes.
Interest rates based on net leverage ratio with spreads ranging from 0.125% to 1.75%.

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