MSGN Holdings, an indirect wholly owned subsidiary of MSG Networks, entered into an amended and restated credit agreement with JPMorgan Chase Bank as administrative agent and the lenders party thereto. The credit agreement amends and restates MSGN Holdings’ prior credit agreement, dated September 28, 2015.
According the related 8-K filing, the credit agreement provides MSGN Holdings with senior secured credit facilities consisting of a $1.10 billion term loan facility and a $250 million revolving credit facility. Under the agreement, the maturity date of the facilities was extended to October 11, 2024. On the effective date, proceeds from the term loan facility were used by MSGN Holdings to repay outstanding indebtedness under the existing credit agreement. Proceeds from the revolving credit facility, which was undrawn on the effective date, will be used by MSGN to fund working capital needs and for other general corporate purposes.
