Netflix goes again to the debt markets but once more, saying plans to supply $1 billion in junk bonds to fund its operations and potential acquisitions.
The announcement comes after the stream posted an eye-popping 15.77 million web new streaming subscribers for the primary quarter of 2020, a file quarterly increase pushed by the coronavirus pandemic.
As of the tip of March, Netflix reported $14.17 billion in debt. Most not too long ago, the streamer raised $2.2 billion in debt final fall. The corporate in its Q1 2020 shareholder letter mentioned “our present plan is to proceed to make use of debt to finance our funding wants.”
Based on Netflix’s announcement, the brand new $1 billion in senior unsecured notes will likely be in U.S. greenback and euro denominations. Phrases of the debt providing will likely be decided by negotiations between the corporate and the preliminary purchasers.