Netflix, Seeking to Pump Up Its Content, Moves to Secure $2 Billion

Oct 21, 2019  •  Post A Comment

“Streaming giant Netflix said Monday it would raise $2 billion via its latest debt offering to boost its war chest for content production and acquisitions, among other things,” THR reports, noting that the announcement comes as new streaming video rivals, including high-profile offerings from Walt Disney and Apple, close in on their launches.

Much of the funding appears to be earmarked for production of original series and films along with licensing of content from entertainment companies.

“The company, led by CEO Reed Hastings, said it would sell approximately $2.0 billion in U.S. dollar and euros denominated senior unsecured bonds after September with $12.4 billion in long-term debt,THR reports.

In a statement, the company said: “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.”

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