Netflix Looking To Sell $1.8B In Debt Bonds In Refinancing Move
Image Source: Time
At a time when home entertainment and the small screen are dominated by streaming services, the original streaming service is trying to fight off some debt. As was previously mentioned in a letter to shareholders in July, Netflix is selling $1.8 billion in bonds to help relieve some of the $12.2 billion it currently owes.
The letter contained the phrase “We have $1.8B of debt maturities in the next twelve months, which we plan to refinance,” stating that the sale of the debt would be used for “general corporate purposes.” 1$ Billion will be due in 2024, and the remaining $800 million will be due in 2054. This is the first time since 2020 in which the company has made such a move.
Source(s): Variety
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