Stepan Company Enters Material Definitive Agreement

TL;DR

Stepan Co signed a big deal, details TBD.

AI Summary

On August 27, 2024, Stepan Company entered into a material definitive agreement. The filing does not provide specific details about the agreement, its terms, or any associated dollar amounts or parties involved.

Why It Matters

This filing indicates a significant new contract or partnership for Stepan Company, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the material definitive agreement.

Key Players & Entities

• Stepan Company (company) — Registrant
• August 27, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $1 — nge on which registered Common Stock, $1 par value SCL New York Stock Exchan
• $50,000,000 — h Stepan issued and has outstanding (a) $50,000,000 in aggregate principal amount of its 2.
• $25,000,000 — s 2021-C, due December 10, 2031 and (c) $25,000,000 in aggregate principal amount of its 2.
• $175,000,000 — under the NYL NPA and Prudential NPA to $175,000,000 and $225,000,000, respectively, and (2)
• $225,000,000 — and Prudential NPA to $175,000,000 and $225,000,000, respectively, and (2) extend the end d

Filing Documents

• scl-20240827.htm (8-K) — 42KB
• scl-ex10_1.htm (EX-10.1) — 57KB
• scl-ex10_2.htm (EX-10.2) — 56KB
• 0000950170-24-101222.txt ( ) — 283KB
• scl-20240827.xsd (EX-101.SCH) — 26KB
• scl-20240827_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Stepan Company ("Stepan") is a party to the following note purchase agreements, among others: a Note Purchase and Master Note Agreement dated as of June 10, 2021 (the "NYL NPA") pursuant to which Stepan issued and has outstanding (a) $50,000,000 in aggregate principal amount of its 2.37% Senior Notes, Series 2021-B, due September 23, 2028, (b) $50,000,000 in aggregate principal amount of its 2.73% Senior Notes, Series 2021-C, due December 10, 2031 and (c) $25,000,000 in aggregate principal amount of its 2.83% Senior Notes, Series 2022-A, due March 1, 2032; and a Note Purchase and Private Shelf Agreement dated as of June 10, 2021 (the "Prudential NPA") pursuant to which Stepan issued and has outstanding (a) $50,000,000 in aggregate principal amount of its 2.30% Senior Notes, Series 2021-A, due June 10, 2028, (b) $50,000,000 in aggregate principal amount of its 2.73% Senior Notes, Series 2021-D, due December 10, 2031 and (c) $50,000,000 in aggregate principal amount of its 2.83% Senior Notes, Series 2022-B, due March 1, 2032. On August 27, 2024, Stepan entered into amendments to the NYL NPA and Prudential NPA (together, the "2024 NPA Amendments") to (1) increase the available facility amounts under the NYL NPA and Prudential NPA to $175,000,000 and $225,000,000, respectively, and (2) extend the end date of the issuance period under each of the NYL NPA and Prudential NPA to August 27, 2027. The foregoing description of the 2024 NPA Amendments is qualified in its entirety by reference to the full texts of the 2024 NPA Amendments which are filed as Exhibits 10.1 and 10.2 hereto and incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Description 10.1 Second Amendment, dated as of August 27, 2024, to the Note Purchase and Private Shelf Agreement dated as of June 10, 2021, by and among Stepan Company, PGIM, Inc. and the purchasers thereto 10.2 Second Amendment, dated as of August 27, 2024, to the Note Purchase and Master Note Agreement dated as of June 10, 2021, by and among Stepan Company, NYL Investors LLC and the purchasers thereto 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 28, 2024 STEPAN COMPANY By /s/ David G. Kabbes Name: David G. Kabbes Title: Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR