News Articles

Netflix to Raise $400M in Debt, Potentially to Fund Acquisitions

Internet video streamer will refinance $225M in current debt 1/29/2013 09:27:31 AM Eastern

Netflix may make acquisitions or other "strategic
transactions" with its move to raise $400 million in new debt, $225 million of
which it plans to use to refinance current debt, the company said Tuesday.

The company said it intends to offer $400 million aggregate
principal amount of senior notes due 2021 to institutional buyers. Netflix will
use $225 million of the net proceeds to redeem its outstanding 8.5% senior
notes due 2017.

Netflix said it intends to use the remaining $175 million of
the funds for general corporate purposes, including capital expenditures,
investments, working capital and potential acquisitions and strategic
transactions.

Click
here to read the full story at Multichannel News.

September
October