Netflix To Offer $200 Million Of Senior Notes

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October 29, 2009 (FinancialWire) -- Netflix, Inc. (NASDAQ: NFLX) plans to offer $200 million of senior notes to institutional buyers.

The notes will be senior unsecured obligations of Netflix. Interest will be payable semi-annually.

Netflix plans to use the net proceeds of the offering to repay all outstanding amounts under, and terminate, a September 2009 credit agreement, and for possible future stock repurchases and general corporate purposes, including capital expenditures, working capital and potential acquisitions and strategic transactions.

Los Gatos, California-based Netflix is an online movie rental service with more than 10 million subscribers.

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