Netflix Makes a $1 Billion Bond Offering to Fund Acquisitions, Production, and Operations
Despite having approximately $5.2 billion cash on hand according to its first-quarter 2020 earnings report, Netflix (NASDAQ: NFLX) declared its intention today to sell $1 billion in senior unsecured notes, a type of bond. The offering is part of the company's usual business strategy, not a direct response to the coronavirus pandemic.
Netflix has not yet specified the maturity date, interest rate, or other details of the bonds. Instead, it says these terms will be negotiated with the investors who buy the offering. The notes include two series, one denominated in dollars and the other in euros. Qualified institutional buyers will be given the opportunity to purchase the bonds.
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Source Fool.com
