---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-162500"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2022-05-27T23:59:59+00:00"
generated_at: "2026-06-25T06:19:58.453541+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-162500
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2022-05-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604028/000119312522162500/0001193125-22-162500-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000119312522162500/d334806d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-162500
- JSON: https://secwatch.observer/filing/0001193125-22-162500.json
- Plain text: https://secwatch.observer/filing/0001193125-22-162500.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.