Advanced Drainage Systems proposes $500M senior notes offering to refinance debt and amend credit facility

ADVANCED DRAINAGE SYSTEMS, INC.

Up to $500M aggregate principal amount of senior unsecured notes due 2034 offered in private transaction.
Plans to amend credit facility: revolver from $600M to $750M, term loan B from $408M to $600M, extend maturity.
Proceeds to refinance existing credit facility and redeem all outstanding 5.000% senior notes due 2027.
Notes guaranteed by domestic subsidiaries; offering not conditioned on credit facility amendment.
Offering exempt from registration under Rule 144A and Regulation S; not a public offer.

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