secwatch.observer — SEC 8-K summary
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Issuer:     Sphere Entertainment Co. (SPHR)
CIK:        0001795250
Form:       8-K
Filed at:   2024-11-26T23:59:59+00:00
Accession:  0001193125-24-266120
Event type: debt
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MSGN subsidiary defaults on $829M term loan; forbearance extended to Dec 20, 2024
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- MSGN Holdings L.P., a Sphere Entertainment subsidiary, failed to pay $829.125M principal on Oct 11, 2024 maturity.
- Unpaid interest as of Nov 26, 2024 is $4.389M; total term loan outstanding remains $829.125M.
- Forbearance period extended to Dec 20, 2024, subject to earlier termination events defined in the amended agreement.
- Loan parties acknowledge the Specified Default and waive defenses; lenders reserve all remedies after forbearance ends.
- Revolving credit commitments terminated as of Oct 11, 2024; no new debt or restricted payments allowed without lender consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1795250/000119312524266120/0001193125-24-266120-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1795250/000119312524266120/d899421d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-266120

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