Advanced Drainage Systems Increases Credit Facility by $300 Million

Advanced Drainage Systems, Inc. (ADS) entered into a Fifth Amendment to its Credit Agreement on November 6, 2026. The amendment increases the company's aggregate revolving commitments by $300.0 million, bringing the total revolving commitments to $1.05 billion. The agreement was executed by ADS, its subsidiary guarantors, Bank of America, N.A., and PNC Bank, National Association.

The Fifth Amendment modifies the company's Existing Credit Agreement, which was originally dated July 31, 2019, and has been amended multiple times since. The new provisions allow for supply chain financing and receivables financing arrangements. The amendment also updates the Guarantee and Collateral Agreement to support these new financing structures.

The obligations under the Credit Agreement are guaranteed by certain of ADS's subsidiaries, including Infiltrator Water Technologies, LLC, StormTech LLC, and Orenco, Inc. These Guarantors have granted a first priority lien on substantially all of their assets to secure the obligations. The amendment includes customary representations, warranties, covenants, and events of default.