Stepan Co. (SCL) Announces $100 Million Notes Offerings
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Stepan Company (NYSE: SCL) announced today that on June 10, 2021, it issued $50 million in aggregate principal amount of its 2.30% Senior Notes, Series 2021-A, due June 10, 2028, and entered into an agreement to issue $50 million in aggregate principal amount of its 2.37% Senior Notes, Series 2021–B, due September 23, 2028. The Series 2021-B Notes offering is expected to close on September 23, 2021, subject to customary closing conditions. Stepan intends to use the net proceeds from the issuances for general corporate purposes.
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.
Headquartered in Northfield, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia.
The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com.
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