Netflix said it intends to offer to sell $800 million in senior notes.
The streaming VOD company has been expanding its original content, with plans to spend $6 billion on programming this year. With just $5 billion in cash flow, the company needs to borrow to continue spending at that rate.
The company said the proceeds from the offering will be used for general corporate purposes, which may include content acquisitions, capital expenditures, investment, working capital and potential acquisitions and strategic transactions.
The interest rate, redemption provisions, maturity date and other terms of the notes will be set in negotiations between Netflix and the initial purchasers, the company said.
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