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