Netflix is issuing another $2 billion of junk bonds to fund its cash-burning content business (NFLX)

pulse

October 22, 2018 8:06 PM

Netflix issued Monday a new $2 billion junk bond to fund its cash-burning content business. Shares dropped 1.26% on the news.

This latest round of junk bond offerings will push Netflix's debt load above $10 billion for the first time, according to Bloomberg.
The streaming-media giant posted last week third-quarter earnings and subscriber growth that topped expectations, but warned investors that the costs of developing original content will continue to weigh on its profit this year.
Watch Netflix trade in real time here.