4-23-18 7:47 AM EDT | Email Article

Netflix Inc. (NFLX) said Monday it is planning to tap the high-yield bond market with a $1.5 billion deal. The company said it will use the proceeds for general corporate purposes, including content acquisition, production and development, capex, investments, working capital and potential acquisitions and strategic deals. The company's most active bonds, the 4.875% notes that mature in April of 2028, last traded at 96.50 cents on the dollar to yield 5.332%, or at a yield spread of 239 basis points over Treasurys, according to trading platform MarketAxess. Shares were slightly higher premarket and have gained 129% in the last 12 months, while the S&P 500 has gained 14%.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

04-23-18 0747ET

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