Netflix plans to raise USD 1.5 billion in debt

Netflix announced on Monday that it planned to raise USD 1.5 billion in debt. The company said it intends to use the net proceeds from this offering for general corporate purposes, which may include content acquisitions, production and development, potential acquisitions and strategic transactions, among others.
The streaming giant had raised $1.6 billion in debt last October to finance its content offer in 2018. According to the company, this year it plans to invest USD 8 billion to increase its online catalog.
“The interest rate, redemption provisions, maturity date and other terms of the Notes will be determined by negotiations between Netflix and the initial purchasers”, the company said in a statement.
In the first quarter of 2018, Netflix added 7.4 million members and reached a total base of 125 million. At the end of that period, the company reported long-term debt of USD 6.5 billion.