30 Jul Netflix Raising $1.8B in New Debt Offering [The Hollywood Reporter]
BY ALEX WEPRIN
July 30, 2024 | Netflix is raising cash, seeking to secure $1.8 billion in a new debt offering.
The company says it will use the cash to refinance existing debt that is coming due in the next year, and for “general corporate purposes,” per a securities filing filing. The streaming giant, it should be noted, is expanding its content offering over the next year to include the WWE (to the tune of around $500 million per year) as well as a pair of NFL games on Christmas Day, which will cost it low to mid nine figures.
“Our management will have broad discretion in the application of the net proceeds, and the purposes for which they are used may change from those described above,” the company wrote in its prospectus. Netflix previously said that it was planning to refinance $1.8 billion in debt maturities.
Read more on The Hollywood Reporter.