By Devika Patel
Knoxville, Tenn., June 14 – Stepan Co. issued $50 million of senior notes on Thursday, according to a press release. The company also priced an additional $50 million of senior notes on that date that will settle in September.
More specifically, the company issued $50 million of 2.3% seven-year series 2021-A notes; another $50 million of 2.37% seven-year series 2021-B notes will settle on Sept. 23.
Proceeds will be used for general corporate purposes.
Based in Northfield, Ill., Stepan is a specialty and intermediate chemicals producer.
| Issuer: | Stepan Co.
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| Issue: | Senior notes
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| Amount: | $100 million
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| Distribution: | Private placement
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| Series 2021-A notes
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| Amount: | $50 million
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| Maturity: | June 10, 2028
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| Coupon: | 2.3%
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| Settlement date: | June 10
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| Series 2021-B notes
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| Amount: | $50 million
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| Maturity: | Sept. 23, 2028
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| Coupon: | 2.37%
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| Pricing date: | June 10
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| Settlement date: | Sept. 23
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