Stepan Company has secured a new $500 million five-year credit agreement, replacing its previous $450 million facility and boosting liquidity by $50 million. The specialty chemicals maker announced the deal on 25 September 2026. The new package comprises a $350 million multicurrency revolving credit facility and a $150 million delayed draw term loan, both maturing in September 2031. An expansion option allows Stepan to increase total capacity to $750 million if needed. Interest rates are tied to the company's net leverage ratio, with spreads ranging from 1.125% to 1.625% above benchmark rates. JPMorgan Chase Bank serves as administrative agent, with Bank of America as syndication agent. The agreement includes standard financial covenants and will finance working capital, acquisitions, capital expenditure, and general corporate purposes.

Paylocity has entered into an amended and restated revolving credit agreement establishing a $1.75 billion senior secured facility with PNC Bank and other lenders, replacing a prior 2019 agreement. The facility matures on 17 September 2031 and had $81.25 million outstanding on the effective date. The agreement allows Paylocity to request up to $875 million in additional revolving commitments and up to two one-year maturity extensions, subject to lender approval. Proceeds may be used for working capital, capital expenditures, general corporate purposes, permitted acquisitions, investments, distributions, and share repurchases. The facility is guaranteed by material subsidiaries and secured by substantially all assets of Paylocity and the guarantors. Financial covenants require a maximum net total leverage ratio of 4.0x and a minimum interest coverage ratio of 2.0x.