News From Fox Corporation
Transmitted by PR Newswire for Journalists on April 24, 2019 06:08 PM EST
Netflix Prices Offerings of Senior Notes
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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. |
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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.
SOURCE Netflix, Inc.
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