secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK:        0001604028
Form:       8-K
Filed at:   2022-05-27T23:59:59+00:00
Accession:  0001193125-22-162500
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604028/000119312522162500/0001193125-22-162500-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604028/000119312522162500/d334806d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-162500

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