secwatch.observer — SEC 8-K summary
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Issuer:     Madison Square Garden Entertainment Corp. (MSGE)
CIK:        0001952073
Form:       8-K
Filed at:   2025-06-30T23:59:59+00:00
Accession:  0001193125-25-152697
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1952073/000119312525152697/0001193125-25-152697-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1952073/000119312525152697/d32807d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-152697

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