Netflix (NFLX) Announces $200M Senior Note Offering
Netflix, Inc. (NASDAQ: NFLX) today announced that it has priced its offering of $200.0 million aggregate principal amount of its 8.50% Senior Notes due 2017 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The offering is expected to close on November 6, 2009, subject to satisfaction of customary closing conditions.
The notes will be senior unsecured obligations of Netflix. Interest will be payable semi-annually at a rate of 8.50% per annum on May 15 and November 15 of each year, commencing on May 15, 2010.
Netflix intends to use the net proceeds of the offering to repay all outstanding amounts under, and terminate, its Credit Agreement, dated as of September 16, 2009, and for possible future stock repurchases and general corporate purposes, including capital expenditures, working capital and potential acquisitions and strategic transactions.
The notes will be senior unsecured obligations of Netflix. Interest will be payable semi-annually at a rate of 8.50% per annum on May 15 and November 15 of each year, commencing on May 15, 2010.
Netflix intends to use the net proceeds of the offering to repay all outstanding amounts under, and terminate, its Credit Agreement, dated as of September 16, 2009, and for possible future stock repurchases and general corporate purposes, including capital expenditures, working capital and potential acquisitions and strategic transactions.
You May Also Be Interested In
- Netflix Names Cindy Holland to new role as VP Original Content. Jason Ropell, VP Content Acquisition, takes charge of domestic television licensing for the U.S. market
- STAG Industrial (STAG) Prices 7.25M Shares at $12.88
- Needham & Company Maintains an 'Underperform' on Netflix (NFLX); P/E Ratio Fallen From Nosebleed Levels...But Still Look Expensive
Create E-mail Alert Related Categories
Equity OfferingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
