Netflix Files to Sell $1.8 Billion in Debt Bonds in Refinancing Move
variety.comTodd Spangler NY Digital Editor Netflix plans to issue long-term debt securities totaling $1.8 billion, the first debt offering for the company since its credit rating was upgraded from junk to investment-grade status last year.
The new debt offering is evidently to refinance the streaming giant’s $1.8 billion in debt that is maturing in 2025, according to data compiled by Bloomberg.
Overall, Netflix had $12.18 billion in long-term debt as of the end of June, down from $14.14 billion at the end of 2023, per its most recent earnings report.
On Tuesday, Netflix detailed the terms of the new debt in a pricing term sheet in a filing with the SEC. The offering comprises two tranches: $1 billion in 4.90% senior notes due in 2034, and $800 million in 5.40% senior notes due in 2054.
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