Netflix launched its two-part 10.5-year high-yield bond deal on Tuesday at wider pricing levels than initially expected, according to a lead.
Its US$800m portion launched at 6.375%, wider than talk in 6.25% area. The larger €1.1bn portion launched at 4.625% after being talked in the 4.5% area.
The bond deal will be used by Netflix to help fund new content and to purchase additional content for its popular streaming service, as well as general corporate purposes.
Joint bookrunners for the bond offering are Deutsche Bank, Goldman Sachs, JP Morgan, Morgan Stanley and Wells Fargo.
