Anonymous ID: 2dbd9f April 22, 2020, 6:15 a.m. No.8883290   🗄️.is 🔗kun

Netflix to issue $1 billion worth debt, in U.S. dollars and euros

 

Netflix Inc. NFLX, -0.83% said Wednesday it will offer $1 billion worth of senior unsecured debt to qualified institutional buyers. The notes will be in two series, and be denominated in U.S. dollar and euros. The interest rate and maturity date of the notes will be determined through negotiations with the purchasers. Netflix plans to use the proceeds from the debt sale for general corporate purposes, which could include content acquisitions, production and development, capital expenditures and working capital. Netflix's credit is currently rated Ba3 at Moody's Investors Service and BB- at S&P Global Ratings, which are three notches deep into speculative grade, or "junk" territory," at each ratings firm. Netflix's stock, which fell 1.4% in premarket trading after the streaming video company reported first-quarter results late Tuesday, has soared 34.1% year to date through Tuesday, while the S&P 500 SPX, -3.06% has dropped 15.3%.

https://www.marketwatch.com/story/netflix-to-issue-1-billion-worth-debt-in-us-dollars-and-euros-2020-04-22