MSG Sports refinances Knicks credit facility to $425M and Rangers facility to $250M, both due 2030

Madison Square Garden Sports Corp.

Knicks LLC entered $425M senior secured revolving credit facility maturing Nov 6, 2030; refinanced $267M outstanding from prior facility.
Rangers LLC entered $250M senior secured revolving credit facility maturing Nov 6, 2030; no borrowings outstanding at closing.
Interest rates: base rate plus 0.25%-0.375% (Knicks) or 0.375%-0.625% (Rangers); or SOFR plus 1.25%-1.625% depending on league credit rating.
Both facilities require minimum debt service ratio of 1.5:1.00 and include customary covenants and events of default.

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