Netflix will raise $1 billion in debt sales, with plans to use the funding for general purposes, including investing in content, the company announced Wednesday.
“Netflix intends to use the net proceeds from this offering for general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions,” the company said.
In its Q1 results, Netflix reported $14.17 in debt, with $2.2 billion of that raised in fall 2019. In a letter to shareholders earlier this week, Netflix said “our current plan is to continue to use debt to finance our investment needs.”
In its announcement Wednesday, Netflix noted that the $1 billion in senior unsecured notes will be in US dollar and euro denominations. Terms will be negotiated between Netflix and initial purchasers.
Did you know we have a YouTube Channel? Every week we have a live Cord Cutting Q&A, and weekly Cord Cutting recap shows exclusively on our YouTube Channel!
Please follow us on Facebook and Twitter for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.