LOS GATOS, Calif., April 24, 2019 /PRNewswire/ -- Netflix, Inc.
(Nasdaq: NFLX) today announced the pricing of €1.2 billion
aggregate principal amount of its 3.875% senior notes due 2029 and
$900 million aggregate principal
amount of its 5.375% senior notes due 2029 (together, the "Notes").
The Notes are being offered to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), and outside the
United States to non-U.S. persons pursuant to Regulation S
under the Securities Act. The sale of the Notes is expected to
close on April 29, 2019, subject to
the satisfaction of customary closing conditions. Interest on each
series of the Notes will be payable in cash semi-annually in
arrears, beginning on December 15,
2019.
Each series of Notes will mature on November 15, 2029, unless earlier repurchased or
redeemed. Holders of each series of Notes may require Netflix to
repurchase such Notes upon the occurrence of certain change of
control events at a purchase price equal to 101% of the principal
amount thereof plus accrued and unpaid interest, if any.
Netflix may redeem either series of Notes, in whole or in part,
at a price equal to 100% of the principal amount thereof plus a
"make-whole" premium and accrued and unpaid interest, if any.
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.
This announcement does not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any
offer, solicitation or sale in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful. The Notes
have not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States absent registration or an
applicable exemption from such registration requirements.
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SOURCE Netflix, Inc.