Netflix Looks to Raise $1.6 Billion to Help Fund Content Acquisitions

Netflix is planning to offer $1.6 billion worth of senior notes as it looks to expand its content budget.

Netflix intends to use the net proceeds from this offering for “general corporate purposes,” the company said. This may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions. The notes will be offered to “qualified institutional buyers” and will be subject to negotiations with regard to interest rate and maturity date.

During is latest earnings announcement, Netflix said it plans to spend $7 billion to $8 billion on content in 2018.