Netflix Prices $200 Million Of Senior Notes

(Comment on this article at http://www.financialwire.net/2009/11/04/netflix-prices-200-million-of-senior-notes/)

November 4, 2009 (FinancialWire) -- Netflix, Inc. (NASDAQ: NFLX) has priced an offering of $200 million of its 8.50% senior notes due 2017. The offering is scheduled to close on November 6.

The notes will be senior unsecured obligations of Netflix. Interest will be payable semi-annually at a rate of 8.50% per annum on May 15 and November 15 of each year, beginning on May 15, 2010.

Netflix plans to use the net proceeds of the offering to repay all outstanding amounts under, and terminate, its credit agreement, dated as of September 16. It may also use the funds for 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 that claims to have more than 10 million subscribers.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

http://www.financialwire.net

Related terms: acquisition, california, corporate, movie, nasdaq, online, prices, web