Sphere subsidiary MSG Las Vegas enters $550M credit facility maturing 2031

Sphere Entertainment Co.

MSG Las Vegas, LLC obtained $275M term loan and $275M revolving credit facility.
Facilities mature January 29, 2031; interest at SOFR + 2.50%-3.00% or base rate + 1.50%-2.00%.
Proceeds for working capital, general corporate purposes, and distributions to Sphere Entertainment Group.
Financial covenants: min debt service coverage 2.50:1.00, max total leverage 3.50:1.00.
Obligations secured by all assets of MSG LV, including leasehold interest in Las Vegas Sphere land.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sphere Entertainment Co. entered into Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent and L/C Issuer, and the lenders party thereto (effective 2026-01-29).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent and L/C Issuer, and the lenders party thereto
Effective: 2026-01-29

Exact text from the filing

On January 29, 2026, MSG Las Vegas, LLC (“MSG LV”), an indirect, wholly-owned subsidiary of Sphere Entertainment Co. (the “Company”), entered into a credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent and L/C Issuer, and the lenders party thereto, providing for (i) a $275 million senior secured term loan facility (the “Term Loan Facility”) to refinance the existing term loan and (ii) a senior secured revolving credit facility in the maximum principal amount of $275 million (the “Revolving Credit Facility” and collectively, the “Sphere Facilities”), the proceeds of which are expected to be used for working capital and general corporate purposes, including distributions to Sphere Entertainment Group, LLC (“Sphere Entertainment Group”).

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Source: SEC EDGAR

accession 0001193125-26-035571

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