In a financial statement, Netflix said that it intends to use the net proceeds from the offering for “general corporate purposes” – which it said may include content acquisitions, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.
Netflix said that, subject to market and other considerations, it would offer the €1 billion aggregate amount of senior notes through an offering outside of the United States to “non-US persons”, and to “qualified institutional buyers”.
“The interest rate, redemption provisions, maturity date and other terms of the notes will be determined by negotiations between Netflix and the initial purchasers,” said Netflix in the statement.
“The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.”
The news comes a week after Netflix announced its first quarter 2017 results, in which it reported that net income more than sixfold year-on-year to US$178.2 million, while revenues climbed to US$2.64 billion compared to US$1.96 billion a year earlier.
Netflix also revealed it will spend more than US$1 billion in marketing its content this year as its slate of originals continues to expand, and will up its investment in programmatic advertising.
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23 October 2020 @ 09:29:38 UTC