Netflix raises $1.9B in debt financing, its biggest round ever. Netflix priced a junk-bond offering of $1.9B — the streamer’s biggest round of debt financing to date — as it looks to fuel its continued content binge-spending. The $1.9B debt offering, announced Monday evening, was increased from Netflix’s plan announced earlier in the day to issue $1.5B in debt.
Shares of Netflix had closed down 2.8% Monday, to $318.69 per share, as investors reacted to the company’s plan to take on additional debt. Netflix has been routinely turning to debt for financing its massive content spending instead of raising that through equity markets, because the company believes the debt is lower cost of capital compared to equity. Read more here.
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