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Netflix Sells $2.2 Billion of Junk Bonds to Fund More Content

  • Company is becoming one of the largest U.S. junk-debt issuers
  • Streaming giant continues to tap debt market to fund growth
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Netflix Inc. sold around $2.2 billion of bonds in the U.S. and Europe as it continues to bolster its original content in the face of expanding competition.

Investors bought $1 billion of dollar-denominated bonds and 1.1 billion of euro bonds ($1.2 billion) from the TV streaming company, data compiled by Bloomberg show. Netflix had said Monday it would sell about $2 billion of debt with the proceeds being used for general corporate purposes, including content purchases and production as well as potential acquisitions, according to a statement.