secwatch.observer — SEC 8-K summary
======================================

Issuer:     STEPAN CO (SCL)
CIK:        0000094049
Form:       8-K
Filed at:   2022-06-27T23:59:59+00:00
Accession:  0001564590-22-024219
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- $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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/94049/000156459022024219/0001564590-22-024219-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/94049/000156459022024219/scl-8k_20220627.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-024219

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer