Netflix has repriced its Senior Notes offering to EUR1.3 BILLION.
The repricing was an aggregate principal amount of 3.625% senior notes due 2027.
It would be recalled that the offering of the Notes was upsized from an originally announced aggregate principal amount of €1 billion.
The Notes are being offered outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act of 1933, as amended and to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The sale of the Notes is expected to close on May 2,
2017, subject to the satisfaction of customary closing conditions. Interest on the Notes will be payable in
cash semi-annually in arrears, beginning on November 15, 2017.
The Notes will mature on May 15, 2027, unless earlier repurchased or redeemed. Holders may require
Netflix to repurchase their 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 the 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, capital expenditures, investments, working capital and potential acquisitions
and strategic transactions.
