Advanced Drainage to pay down revolver drawings with notes proceeds

By Sara Rosenberg

New York, June 2 – Advanced Drainage Systems Inc. plans to repay outstanding revolving credit facility borrowings using proceeds from a $500 million senior notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes and to pay related fees and expenses.

Advanced Drainage is a Hilliard, Ohio-based manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications.

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