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Netflix has raised its senior notes offering to €1.3 billion, upsizing the debt offering from a previously announced €1 billion. The streaming giant is offering the notes to investors outside of the US and said that it expects the sale to close on May 2nd. The notes will mature on May 15th 2027, unless earlier repurchased or redeemed.
According to the FT, Netflix increased the offering on the back of high demand from investors, undeterred by concerns around the streaming service’s substantial cash burn. One unnamed buyer claimed that, after going live, the sale had drawn more than €5 billion of orders by midday.
In a statement Netflix said: “Netflix intends to use the net proceeds from this offering for general corporate purposes, which may include content acquisitions, capital expenditures, investments, working capital and potential acquisitions and strategic transactions,”