Advanced Drainage Systems increases revolving credit facility to $600M, extends maturity to May 2027

ADVANCED DRAINAGE SYSTEMS, INC.

Revolving facility raised from $350M to $600M; swing-line sub-limit increased from $50M to $60M.
Maturity extended to May 26, 2027; reference rate switched from LIBOR to SOFR.
Applicable margin revised: step-down to 175 bps (SOFR loans) if senior secured leverage <2.00x.
Incremental revolving commitment of $250M added; existing lenders assigned participations pro rata.

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