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Netflix Plans to Raise $1 Billion Through Debt Offering
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variety.comBy Todd Spangler NY Digital Editor Netflix is going back to the debt markets yet again, announcing plans to offer $1 billion in junk bonds to fund operations and potential acquisitions.
The announcement comes the morning after the streamer posted an eye-popping 15.77 million net new streaming subscribers for the first quarter of 2020, a record quarterly boom driven by the coronavirus pandemic.
As of the end of March, Netflix reported $14.17 billion in debt. Most recently, the streamer raised $2.2 billion in debt last fall.
The company in its Q1 2020 shareholder letter said “our current plan is to continue to use debt to finance our investment needs.” Because nearly all of Netflix’s original productions are currently on hold, that will
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