Netflix Announces Proposed $2 Billion Offering of Senior Notes

On April 23, 2019, Netflix announced that it intends to offer, subject to market and other considerations, approximately $2 billion aggregate principal amount of U.S. dollar denominated and euro denominated senior unsecured notes in two series through an offering to qualified institutional buyers. The interest rate, redemption provisions, maturity date, and other terms of each series will be determined by negotiations between Netflix and the initial purchasers. Wilson Sonsini Goodrich & Rosati is advising Netflix in the offering.

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.

The WSGR team advising Netflix in the matter includes partners John Fore, Erik Franks, and Eileen Marshall and associates Michael Rosati and Tim Shapiro.

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