Advanced Drainage borrows $100 million under revolving facility

By Wendy Van Sickle

Columbus, Ohio, April 16 – Advanced Drainage Systems Inc. recently borrowed $100 million under its revolving credit facility out of “an abundance of caution” in light of the Covid-19 crisis, according to a news release.

As of March 31, Advanced Drainage said it had total liquidity of approximately $413 million, comprising $174 million in cash and $239 million of availability under committed credit facilities.

The company said it is in full compliance with all financial covenants and does not have any significant debt maturities until 2026.

Advanced Drainage is a Hilliard, Ohio-based manufacturer of water management products and drainage solutions for use in the construction and infrastructure marketplace.

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