Advanced Drainage Systems issues $500M 6.375% senior notes due 2030

ADVANCED DRAINAGE SYSTEMS, INC.

Issued $500M aggregate principal of 6.375% senior notes due June 15, 2030.
Interest payable semi-annually on Jan 15 and July 15, starting Jan 15, 2023.
Notes guaranteed by domestic subsidiaries; net proceeds to repay revolver and for general corporate purposes.
Redemption: make-whole prior to July 15, 2025; thereafter at specified prices; up to 40% with equity proceeds at 106.375%.

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