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Netflix plans offering of $200M senior notes
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LOS GATOS, Calif. - Netflix Inc. said Wednesday it plans an offering of $200 million senior unsecured notes due 2017.
The DVD-by-mail company plans to use the offering's proceeds to pay back outstanding amounts under a credit facility and to end the agreement. It will also use funds for possibly buybacks and general corporate purposes such as capital expenditures, working capital and potential acquisitions.
Netflix said the offering's pricing and other terms would be detailed later.
Shares of Netflix fell 34 cents to $53.90 in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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