Netflix is hitting the corporate bond market again, announcing plans on Monday to issue $2bn in dollar and euro denominated junk bonds to help it finance its heavy spending on original movies and television shows.
The company behind hit shows such as House of Cards and Orange is the New Black is planning to spend more than $8bn on original content this year, up from $6bn in 2017.
To fund this, Netflix has been tapping the debt rather than the equity markets — even though its shares have surged more than 73 per cent this year. It last raised $1.9bn in April and $1.6bn last October.
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