Netflix Said to Sell $1 Billion of Junk Bonds to Finance Content
- Company will use proceeds for content acquisitions, capex
- Streaming service last tapped market for $1.5 billion in 2015
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Netflix Inc. raised $1 billion in the bond market to help fund the streaming company’s content expansion, according to a person familiar with the matter.
The 10-year notes were boosted from an original target of $800 million and may yield 4.375 percent, said the person, who asked not to be named because the deal is private. That’s the lowest yield ever for a dollar debt offering from a U.S. company of that maturity and rating, according to data compiled by Bloomberg.