---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-152697"
form_type: "8-K"
ticker: "MSGE"
cik: "0001952073"
company_name: "Madison Square Garden Entertainment Corp."
filed_at: "2025-06-30T23:59:59+00:00"
generated_at: "2026-05-18T14:54:45.081756+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# MSG National Properties closes $609M term loan and $150M revolver refinancing

## Summary
- New $609.375M term loan and $150M revolver mature June 27, 2030; interest rates SOFR+1.75%-2.50% or base+0.75%-1.50%.
- Covenants: debt service coverage ratio ≥2.5:1 and total leverage ratio ≤3.5:1, tested from Q2 FY2025.
- Quarterly term loan amortization of 5% per annum of original principal, balance due at maturity.
- Collateral excludes MSG Arena, Chicago Theatre, Radio City Music Hall, Beacon Theatre.
- Proceeds used to refinance existing credit facility and pay fees/costs.

## SEC filing metadata
- accession: 0001193125-25-152697
- form_type: 8-K
- ticker: MSGE
- cik: 0001952073
- company_name: Madison Square Garden Entertainment Corp.
- filed_at: 2025-06-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1952073/000119312525152697/0001193125-25-152697-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1952073/000119312525152697/d32807d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-152697
- JSON: https://secwatch.observer/filing/0001193125-25-152697.json
- Plain text: https://secwatch.observer/filing/0001193125-25-152697.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.