Netflix has confirmed it is seeking to offer $400 million aggregate principal amount of senior notes due 2024 to institutional investors – funds it expects to use for acquiring original content and expanding into Europe.

The online streaming giant had disclosed plans to raise the additional debt when it reported fourth-quarter 2013 earnings last month. As of December 31st 2013, Netflix had $500 million in 5.375 per cent senior notes, and the company hopes to obtain similar terms for the new offering.

“At $900 million of total long-term debt, we will have an extremely modest debt-to-equity ratio,” CEO Reed Hastings and CFO David Wells wrote in their Q4 letter to shareholders.

Other posts by :

1. AST SpaceMobile boss outlines benefits
2. Report: LEO build-out accelerates
3. Germany outlines space commitment
4. Analysis: Impact of AT&T on US telcos and cable
5. Bezos rocket production boosted
6. Musk delays Moon landing until 2027
7. Hughes Satellite facing cash crunch
8. Major banks support AST SpaceMobile
9. Fitch downgrades DirecTV debt

Categories: Articles, Business, Funding, OTT, OTT, Premium, VOD