<\/p>\n
Item\u20091.01 Entry into a Material Definitive Agreement. <\/p>\n
On January\u00a029, 2026, MSG Las Vegas, LLC (\u201cMSG LV\u201d), an indirect, wholly-owned subsidiary of Sphere Entertainment Co. (the \u201cCompany\u201d), 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)\u00a0a $275\u00a0million senior secured term loan facility (the \u201cTerm Loan Facility\u201d) to refinance the existing term loan and (ii)\u00a0a senior secured revolving credit facility in the maximum principal amount of $275\u00a0million (the \u201cRevolving Credit Facility\u201d and collectively, the \u201cSphere Facilities\u201d), the proceeds of which are expected to be used for working capital and general corporate purposes, including distributions to Sphere Entertainment Group, LLC (\u201cSphere Entertainment Group\u201d). All obligations under the Sphere Facilities are guaranteed by Sphere Entertainment Group. <\/p>\n
The Sphere Facilities include financial covenants requiring MSG LV to maintain a minimum debt service coverage ratio of 2.50:1.00 and a maximum total leverage ratio of 3.50:1.00. Both covenants are tested quarterly based on the four consecutive fiscal quarters of MSG LV then most recently ended. <\/p>\n
The Sphere Facilities will mature on January\u00a029, 2031. Commencing with the first fiscal quarter to occur after the second anniversary of the closing of the Term Loan Facility, the principal obligations under the Term Loan Facility will be subject to amortization payments of 5% per annum, paid in quarterly installments, with the remainder of the Term Loans due at maturity. Borrowings under the Sphere Facilities will bear interest at a floating rate, which at the option of MSG LV may be either (i)\u00a0Term SOFR (as defined in the Sphere Facilities) plus a margin that ranges from 2.50% to 3.00% based on MSG LV\u2019s total leverage ratio or (ii)\u00a0the Alternative Base Rate (as defined in the Sphere Facilities) plus a margin that ranges from 1.50% to 2.00% based on MSG LV\u2019s total leverage ratio. <\/p>\n
All obligations under the Sphere Facilities, including the guarantees of those obligations, are secured by all of the assets of MSG LV and a pledge of the equity interests in MSG LV held directly by Sphere Entertainment Group (collectively, \u201cCollateral\u201d) including, but not limited to, MSG LV\u2019s leasehold interest in the land on which the Las Vegas Sphere is located. Under certain circumstances, MSG LV is required to make mandatory prepayments on the loan, including prepayments in an amount equal to the net cash proceeds of casualty insurance and\/or condemnation recoveries (subject to certain reinvestment, repair or replacement rights), subject to certain exceptions. <\/p>\n
In addition to the covenants described above, the Sphere Facilities and the related guaranty and security and pledge agreements contain certain customary representations and warranties, affirmative and negative covenants and events of default. The Sphere Facilities contain certain restrictions on the ability of MSG LV to take certain actions as provided in (and subject to various exceptions and baskets set forth in) the Sphere Facilities, including the following: (i)\u00a0incurring additional indebtedness; (ii)\u00a0incurring liens on its assets; (iii)\u00a0making investments, loans or advances in or to other persons; (iv)\u00a0paying dividends and distributions to the extent a default or event of default under the Sphere Facilities is in effect at such time or the debt service reserve account is not funded to the extent required; (v)\u00a0changing its lines of business; (vi)\u00a0engaging in certain transactions with affiliates; (vii)\u00a0amending organizational documents; (viii)\u00a0merging or consolidating; and (ix)\u00a0making certain dispositions. <\/p>\n
The credit agreement governing the Sphere Facilities, the guaranty given by Sphere Entertainment Group and the related security and pledge agreements have been filed as Exhibits 10.1, 10.2, 10.3 and 10.4 to this Current Report on Form 8-K,<\/span> respectively. The description of the agreements contained herein is qualified in its entirety by reference to the agreements, which are incorporated into this Item 1.01 by reference. <\/p>\n<\/div>\n \u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n \u2018 Some details of this article were extracted from the following source www.stocktitan.net \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Item\u20091.01 Entry into a Material Definitive Agreement. On January\u00a029, 2026, MSG Las Vegas, LLC (\u201cMSG LV\u201d), an indirect, wholly-owned subsidiary of Sphere Entertainment Co. (the \u201cCompany\u201d), 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)\u00a0a $275\u00a0million senior secured term loan […]<\/p>\n","protected":false},"author":2,"featured_media":2265380,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[438694,438696,334617,372900,438697,233657,390399,438695],"class_list":["post-2265379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment","tag-credit-agreement","tag-debt-covenants","tag-las-vegas-sphere","tag-revolving-credit-facility","tag-secured-financing","tag-sphere-entertainment","tag-sphr","tag-term-loan"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2026\/02\/Sphere-Entertainment-secures-new-term-loan-revolver-SPHR-SEC.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2265379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2265379"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2265379\/revisions"}],"predecessor-version":[{"id":2265381,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2265379\/revisions\/2265381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2265380"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2265379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2265379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2265379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}