Netflix Prices $1.5 Billion Offering of Senior Notes

On February 2, 2015, Netflix announced the pricing of an offering of $700 million aggregate principal amount of 5.50 percent senior notes due 2022 and $800 million aggregate principal amount of 5.875 percent senior notes due 2025. The size of the offering was increased from the previously announced $1 billion in aggregate principal amount. WSGR advised Netflix in connection with the offering.

Netflix intends to use the net proceeds from the offering for general corporate purposes, which may include content acquisitions, capital expenditures, investments, working capital, and potential acquisitions and strategic transactions.

The WSGR team that advised Netflix on the offering included John Fore, Bob Sanchez, Jeff Cannon, Erik Franks, Larry Guo, and Michael Rosati.

For further details, please see Netflix's press release.