Form 8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


FORM 8-K

 


CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) April 20, 2006

 


STEPAN COMPANY

(Exact Name of Registrant as Specified in its Charter)

 


Delaware

(State or Other Jurisdiction of Incorporation)

 

1-4462   36-1823834
(Commission File Number)   (I.R.S. Employer Identification No.)

 

Edens and Winnetka Road, Northfield, Illinois   60093
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (847) 446-7500

Former name or former address, if changed since last report: Not Applicable

 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On April 20, 2006, Stepan Company (“Stepan”) entered into a $60 million committed Credit Agreement with three U.S. banks to provide unsecured borrowings of up to $60 million, as needed from time to time, for working capital and other corporate purposes (“Credit Agreement”). The Credit Agreement replaces a previous bank credit agreement that would have expired in May 2007. The Credit Agreement requires the maintenance of certain financial ratios and covenants that are similar to those contained in the previous bank credit agreement. A copy of the Credit Agreement is attached as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

 

(c) Exhibits

 

Exhibit

Number

 

Description

99.1   Credit Agreement dated April 20, 2006

 

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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.

 

STEPAN COMPANY
By:  

/s/ Kathleen M. Owens

  Kathleen M. Owens
  Assistant Secretary

Date: April 26, 2006

 

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EXHIBIT INDEX

 

Exhibit

Number

 

Description

99.1   Credit Agreement dated April 20, 2006

 

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