Advanced Drainage Systems, Inc. (WMS), Thursday announced its plans to commence an offering of up to $500 million of senior unsecured notes due 2034 in a private transaction.
The company intends to use the proceeds from the offering, along with other proceeds from a term loan portion, to refinance the outstanding balance under the existing senior secured credit facility and redeem all of its outstanding 5.000 percent senior notes due 2027 with the balance for general corporate purposes.
In light of this offering, the company expects to amend its existing senior secured credit facility to increase the revolving credit facility and term loan "B", as well as extend the maturity date.
In the pre-market hours, WMS is trading at $173.17, up 0.01 percent on the New York Stock Exchange.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.