Netflix is fueling its original content creation with a new round of debt.
last week, the company downplayed the threat of these new streaming services, saying its multi-billion-dollar content budget allows it to take "bold swings" on new projects when necessary.
Earlier this year, Netflix said it expects its cash burn to peak in 2019 before it will start to taper off. The company reiterated that prediction in its, saying it will be able to "fund more of our content spending internally," which should result in improved free cash flow in 2020. Netflix said it plans to use the proceeds to fund "content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions." Netflix said the interest rate, maturity date and other terms of the offering will be determined by negotiations between the company and the initial purchasers.
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