{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-082558","form_type":"8-K","ticker":"WMS","cik":"0001604028","company_name":"ADVANCED DRAINAGE SYSTEMS, INC.","filed_at":"2026-02-27T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.611691+00:00","generated_at":"2026-05-15T23:03:47.232841+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Advanced Drainage Systems issues $500M 5.375% senior notes due 2034 and amends credit facility","bullets":["Issued $500M aggregate principal of 5.375% senior notes due March 1, 2034; interest payable semi-annually starting Sept 1, 2026.","Fourth Amendment increases revolving credit facility from $600M to $750M; new term loan facility of $600M maturing Feb 28, 2033.","Proceeds and new term loans used to refinance existing credit facility and fully redeem $350M 5.000% senior notes due 2027.","Revolver maturity extended to Feb 27, 2031; incremental facility capacity set at greater of $350M or 100% of EBITDA.","PNC Bank named successor administrative agent replacing Barclays Bank PLC under the amended credit agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-082558","json":"https://secwatch.observer/filing/0001193125-26-082558.json","markdown":"https://secwatch.observer/filing/0001193125-26-082558.md","text":"https://secwatch.observer/filing/0001193125-26-082558.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/d113891d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T23:03:47.232841+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"158e9b8871b77bc5098114b0cc008f3e4af8f60d","claim":"ADVANCED DRAINAGE SYSTEMS, INC. incurred senior notes of $500.0 million aggregate principal amount with U.S. Bank Trust Company, National Association at 5.375% maturing March 1, 2034.","evidence_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","confidence":0.9},{"claim_id":"93adb18cfc9e5039cc40843790b4f4108c1245db","claim":"ADVANCED DRAINAGE SYSTEMS, INC. amended credit facility of $600 million with Bank of America, N.A., PNC Bank, National Association at 162.5 basis points (for Term Benchmark based loans) and 62.5 basis points (for b maturing February 28, 2033.","evidence_excerpt":"refinances the Term Facility under the Existing Credit Agreement by providing a new Term Facility in the initial principal amount of $600 million with a maturity date of February 28, 2033","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","confidence":0.9},{"claim_id":"8a3ce0cf8a54d1361bf4542344e534058b54297e","claim":"ADVANCED DRAINAGE SYSTEMS, INC. entered into Fourth Amendment with Bank of America, N.A., PNC Bank, National Association, Barclays Bank PLC (effective 2026-02-27).","evidence_excerpt":"On February 27, 2026, the Company entered into a Fourth Amendment (the “Fourth Amendment”) to the Company’s Credit Agreement dated as of July 31, 2019 (as amended by the First Amendment to Credit Agreement, dated as of September 24, 2019, the Second Amendment to Credit Agreement, dated as of May 26, 2022, the Third Amendment to Credit Agreement, dated as of November 26, 2025 and as further amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof the “Existing Credit Agreement”, and as amended by the Fourth Amendment, the “Credit Agreement”), with Bank of America, N.A. as administrative agent under the Term Facility, PNC Bank, National Association as administrative agent under the Revolving Facility and as Successor Administrative Agent (as defined in the Fourth Amendment), Barclays Bank PLC, as Predecessor Administrative Agent (as defined in the Fourth Amendment), and the several financial institutions from time to time party thereto as lende","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","confidence":0.9},{"claim_id":"c4dd8cd43cdc403f47b17089095040851a4e4ebc","claim":"ADVANCED DRAINAGE SYSTEMS, INC. entered into Indenture with U.S. Bank Trust Company, National Association valued at $500.0 million (effective 2026-02-27).","evidence_excerpt":"On February 27, 2026, Advanced Drainage Systems, Inc. (the “Company”) issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034 (the “Notes”) pursuant to an Indenture, dated February 27, 2026 (the “Indenture”), among the Company, the guarantors party thereto (as defined below, the “Guarantors”) and U.S. Bank Trust Company, National Association, as Trustee (the “Trustee”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001213900-26-054183","ticker":"EMAT","company_name":"Evolution Metals & Technologies Corp.","filed_at":"2026-05-11T23:59:59+00:00","headline":"EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 7.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054183","json":"https://secwatch.observer/filing/0001213900-26-054183.json","markdown":"https://secwatch.observer/filing/0001213900-26-054183.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/ea0290073-8k_evolution.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"The first Convertible Debenture (the “First Debenture”) in the principal amount of $20,000,000 was issued on May 7, 2026.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm"}},{"accession":"0001193125-26-252668","ticker":"BTU","company_name":"PEABODY ENERGY CORP","filed_at":"2026-06-02T14:17:48+00:00","headline":"Peabody prices $250M convertible notes due 2031, repurchases $241.2M of 2028 notes","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-252668","json":"https://secwatch.observer/filing/0001193125-26-252668.json","markdown":"https://secwatch.observer/filing/0001193125-26-252668.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/0001193125-26-252668-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/d112966d8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"additional $25 million in aggregate principal amount of the Notes (together with the “Initial Notes,” the “Notes”), bringing the total aggregate principal amount of the Notes to $250 million. On June 2, 2026, the Company completed the private offering of the Notes. The Notes are senior unsecured obligations of the Company. The net proceeds from this offering were","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1064728/000119312526252668/0001193125-26-252668-index.htm"}},{"accession":"0001882781-26-000041","ticker":"CBLO","company_name":"C2 Blockchain, Inc.","filed_at":"2026-06-02T14:08:44+00:00","headline":"C2 Blockchain raises $130K and up to $1.2M via convertible notes with heavy dilution","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001882781-26-000041","json":"https://secwatch.observer/filing/0001882781-26-000041.json","markdown":"https://secwatch.observer/filing/0001882781-26-000041.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/0001882781-26-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/form8k6226o.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"On May 22, 2026, the Company entered into a Securities Purchase Agreement with Auctus Fund, LLC (“Auctus”), pursuant to which the Company issued and sold a Promissory Note in the principal amount of $130,000 (the “Auctus Note”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1882781/000188278126000041/0001882781-26-000041-index.htm"}},{"accession":"0001140361-26-023577","ticker":"TCPC","company_name":"BlackRock TCP Capital Corp.","filed_at":"2026-06-01T20:50:02+00:00","headline":"BlackRock TCP Capital closes $535.8M CLO securitization, repays existing debt facilities","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-023577","json":"https://secwatch.observer/filing/0001140361-26-023577.json","markdown":"https://secwatch.observer/filing/0001140361-26-023577.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/ef20075169_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"Item 1.01. Entry into a Material Definitive Agreement. On May 27, 2026 (the \" Closing Date \"), BlackRock TCP Capital Corp. (the \" Company \"), through its subsidiary, completed a $535,780,000 securitization of certain loans held by a subsidiary of the Company (the \" CLO Transaction \"). On the Closing Date and in connection with the CLO Transaction, BlackRock DLF 2026-C","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm"}},{"accession":"0001628280-26-039479","ticker":"VVX","company_name":"V2X, Inc.","filed_at":"2026-06-01T20:10:20+00:00","headline":"V2X refinances $868.5M term loans with new tranche maturing 2030; SOFR+2% margin","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-039479","json":"https://secwatch.observer/filing/0001628280-26-039479.json","markdown":"https://secwatch.observer/filing/0001628280-26-039479.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/vec-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"The Amendment provides for, among other things, a new tranche of term loans under the Credit Agreement in an aggregate original principal amount of $868,522,978.38 (the “New Term Loans”), which New Term Loans replace or refinance in full all of the existing term loans outstanding under the Credit Agreement (as in effect immediately prior to the Amendment), as further set forth in the Amendment. The New Term Loans mature on December 6, 2030.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm"}},{"accession":"0001805833-26-000030","ticker":"SST","company_name":"System1, Inc.","filed_at":"2026-06-01T13:00:19+00:00","headline":"System1 exchanges $302.6M debt for $150M term loan, $39.3M preferred stock, and cash","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: debt_financing","same SEC item: 1.01, 2.03, 7.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001805833-26-000030","json":"https://secwatch.observer/filing/0001805833-26-000030.json","markdown":"https://secwatch.observer/filing/0001805833-26-000030.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000030/0001805833-26-000030-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000030/sst-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"specified in the Exchange Agreement on the terms and subject to the conditions set forth therein. The consideration under the Exchange Agreement consists of (i) a new $150.0 million term loan facility held by the Participating Lenders (the “Priority Term Loans”), (ii) the issuance of 39,250 shares of Series A Cumulative Convertible Preferred Stock (the","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1805833/000180583326000030/0001805833-26-000030-index.htm"}},{"accession":"0000008947-26-000108","ticker":"AZZ","company_name":"AZZ INC","filed_at":"2026-05-08T23:59:59+00:00","headline":"AZZ refinances revolver; maturity extended to 2029, margins cut 50 bps","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-26-000108","json":"https://secwatch.observer/filing/0000008947-26-000108.json","markdown":"https://secwatch.observer/filing/0000008947-26-000108.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/azz-20260507.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"The Seventh Amendment (i) terminated the Initial Revolving Credit Commitments and simultaneously replaced them in their entirety with Extended Revolving Credit Commitments having a Maturity Date of May 7, 2029, (ii) decreased the interest rate margin applicable to the Revolving Credit Loans from margins ranging from 175 basis points to 275 basis points (subject to leverage ratio step-downs) to margins ranging from 125 basis points to 225 basis points (subject to leverage ratio step-downs)","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm"}},{"accession":"0001104659-26-057953","ticker":"ILPT","company_name":"Industrial Logistics Properties Trust","filed_at":"2026-05-08T23:59:59+00:00","headline":"ILPT Mountain JV closes $1.62B loan at 5.71% fixed, repays $1.6B existing debt","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-057953","json":"https://secwatch.observer/filing/0001104659-26-057953.json","markdown":"https://secwatch.observer/filing/0001104659-26-057953.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/tm2613865d1_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"issued $500.0 million aggregate principal amount of its 5.375% senior notes due 2034","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526082558/0001193125-26-082558-index.htm","comparable_excerpt":"Stanley Bank, N.A., Bank of America, N.A., Bank of Montreal and UBS AG New York Branch, or collectively,\nthe lenders, pursuant to which Mountain JV obtained, in aggregate, a $1.62 billion loan secured\nby 90 of its properties, or the Loan . Also on May 8, 2026, we entered into a guaranty in favor of the lenders, pursuant to which\nwe guaranteed certain limited","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}