Netflix Inc plans to raise $1.5 billion in debt

Netflix Inc said on Monday it planned to raise $1.5 billion in debt, the second time the company is tapping the debt market in less than a year to fuel a rapid expansion in original content.

The video streaming pioneer, which raised $1.6 billion in debt last October, has been spending aggressively on original content to drive subscriber growth around the world, reports Reuters.

Netflix crushed Wall Street’s estimates for subscriber additions earlier this month, driven by hit original shows “Altered Carbon” and “Jessica Jones”, and said it looks to spend nearly $8 billion on content in 2018.

The company also reported long-term debt of $6.5 billion at the end of first quarter and said it expects free cash flow to be negative in the second half of 2018. Netflix had around $2.6 billion in cash, according to the company’s latest quarterly report.

The company said on Monday it intends to use the net proceeds from the offering for general corporate purposes, which may include content acquisitions, production.


This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Paperfly launches delivery services covering 64 districts in Bangladesh
The miracle of Hyperbaric Oxygen Therapy (HBOT) and its potential in Bangladesh
Google to move into banking by offering current accounts
One child dies of pneumonia every 39 seconds
Man damages his own brain to forget the Infinity War spoilers he saw before


News of the Month

April 2018
« Mar   May »
Scroll Up
%d bloggers like this: