25 Apr, 2019FORTUNE.COM
Plenty of viewers binge on junk while watching Netflix. Now Netflix itself is binging: on junk bonds.
Netflix went back to the junk bond well again on this week with a new $2 billion offering for general corporate purposes, which can include content, production, and development. It’s not the first time the company has gone calling--this issuance raises the company’s total long-term debt to more than $12 billion. It may not be the last, either, although CEO Reed Hastings said in an analyst call on April 16, 2019, “you better get in soon, because there’s not going to be that much more [bond offerings] to go.”...
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