LOS GATOS, Calif., Oct. 23, 2017 /PRNewswire/ -- Netflix, Inc.
(NASDAQ: NFLX) today announced the pricing of an offering of
$1.6 billion aggregate principal
amount of 4.875% senior notes due 2028 (the "Notes"). The Notes are
being offered to 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 26, 2017, subject to the
satisfaction of customary closing conditions. Interest on the Notes
will be payable in cash semi-annually in arrears, beginning on
April 15, 2018.
The Notes will mature on April 15,
2028, unless earlier repurchased or redeemed. Holders may
require Netflix to repurchase their 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 the 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.
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
transactions.
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.
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SOURCE Netflix, Inc.