Netflix Looking to Raise $1 Billion to Support Content Acquisitions

LOS GATOS: Netflix has proposed a new offering of $1 billion in senior notes, with plans to use the money for “general corporate purposes” that include acquiring new content.

The streaming giant announced the pricing of an offering of $1 billion aggregate principal amount of 4.375 percent senior notes due 2026, upsized from an originally announced $800 million. Interest on the notes will be payable in cash semi-annually in debts, starting on May 15, 2017. The notes will mature on November 15, 2026.

Netflix said it plans to use the proceeds from the offering to bolster content acquisitions, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.