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.
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