LOS GATOS, Calif., Oct. 22, 2019 /PRNewswire/ -- Netflix, Inc.
(Nasdaq: NFLX) today announced the pricing of €1.1 billion
aggregate principal amount of its 3.625% senior notes due 2030 and
$1.0 billion aggregate principal
amount of its 4.875% senior notes due 2030 (together, the "Notes").
The offering of the Notes was upsized from an originally announced
aggregate principal amount of $2.0
billion. The Notes are being offered to persons reasonably
believed to be qualified institutional buyers pursuant to Rule 144A
under the Securities Act of 1933, as amended (the "Securities
Act"), and outside the United
States to non-U.S. persons pursuant to Regulation S under
the Securities Act. The sale of the Notes is expected to close on
October 25, 2019, subject to the
satisfaction of customary closing conditions. Interest on each
series of the Notes will be payable in cash semi-annually in
arrears, beginning on June 15,
Each series of Notes will mature on June
15, 2030, unless earlier repurchased or redeemed. Holders of
each series of Notes may require Netflix to repurchase such Notes
upon the occurrence of certain change of control events at a
purchase price equal to 101% of the principal amount thereof plus
accrued and unpaid interest, if any.
Netflix may redeem either series of Notes, in whole or in part,
at a price equal to 100% of the principal amount thereof plus a
"make-whole" premium and accrued and unpaid interest, if any. On
and after March 15, 2030, Netflix may
redeem the Notes at 100% of the principal amount plus accrued and
unpaid interest, if any.
Netflix intends to use the net proceeds from this offering for
general corporate purposes, which may include content acquisitions,
production and development, capital expenditures, investments,
working capital and potential acquisitions and strategic
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any
offer, solicitation or sale in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful. The Notes
have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from such registration requirements.
View original content to download
SOURCE Netflix, Inc.