Stepan Executes $350 mn Five Year Revolving Credit Facility Agreement

Stepan executes $350 mn five-year revolving credit facility deal

6:14 AM, 2nd February 2018
Stepan logo

NORTHFIELD, US: Stepan Company (SCL) said that it has entered into a five-year committed $350 million multi-currency revolving credit facility that matures on 30 January 2023, with a syndicate of banks.

This credit agreement replaces the company's previous $125 million revolving credit agreement that was scheduled to expire in July 2019.

JP Morgan Chase Bank NA and Merrill Lynch, Pierce, Fenner & Smith Incorporated, an affiliate of Bank of America NA, acted as joint lead arrangers.

"This five-year commitment provides us increased flexibility and positions us to continue executing on our strategic initiatives and opportunities moving forward," said F Quinn Stepan Jr, chairman, president and chief executive officer, Stepan.

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