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.
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