Netflix Inc. /zigman2/quotes/202353025/composite NFLX +1.87% said late Tuesday that it had priced $2.22 billion worth of junk bonds. The streaming company is offering €1.1 billion ($1.22 billion) of its 3.625% senior notes due 2030 and $1 billion of its 4.875% senior notes due 2030. Netflix said it plans to use the junk-rated bonds for a range of purposes that includes content, production, develop and potential acquisitions. Netflix stock fell 0.1% in the extended session and closed down 4.1% during regular trading to $266.69.
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Netflix sells $2.2 billion of junk bonds as it braces for onslaught of competition