Netflix to Raise $2 Billion in Bond Offering as Part of New

Uses “may include content acquisitions, production and development,” streaming service says

Netflix plans to lift $2 billion {dollars} for what it refers to as “general corporate purposes,” which it says “may include content acquisitions, production and development,” amongst different issues.

Here is the complete related language from the Securities and Exchange Commission submitting: “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 senior unsecured notes, which attain $2 billion in combination in U.S. greenback and euro denominations, can be provided in two collection.

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Netflix reported its third-quarter 2019 earnings final week, when it surpassed earnings expectations however narrowly missed out on hitting the 7 million new subscribers it had forecast.

The streaming service’s Q3 earnings got here because it’s about to face elevated streaming competitors. Disney and Apple will each launch their new streaming companies subsequent month, whereas HBO Max and NBCU’s Peacock are set to debut subsequent 12 months. During the corporate’s Q3 earnings name, Netflix executives mentioned the cheaper value of Apple and Disney’s streaming companies is not going to cease it from elevating subscriber charges sooner or later.

If this headline seems acquainted, it’s as a result of Netflix did just about the very same factor again in April, and final October.