Netflix Inc. issued US$900 million and EUR1.2 billion (equivalent to US$1.34 billion) in new bonds, after receiving investor orders of about US$6 billion between the 2 currencies, pushing the oversubscription rate to approximately 3 times. The streaming service had originally planned to sell US$2 billion of debt to fund general corporate purposes that may include investing in content, production and development, as the company comes under pressure from media giants including Walt Disney Co., AT&T Inc. and Apple Inc. CEO Reed Hastings told debt investors that they “better get in soon” before the company’s debt issuance slows in the future, prompting demand that allowed Netflix to increase their transaction to the equivalent of US$2.24 billion. The dollar securities will have a tenor of 10.5 years and yield 5.375% while the euro notes were sold at 3.875%, down from 5.5% and 4%, respectively.

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