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Netflix plans to raise $2 billion to fund new content

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By Reuters
Netflix plans to raise $2 billion to fund new content
FILE PHOTO: The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. REUTERS/Mike Blake/File Photo   -   Copyright  Mike Blake(Reuters)

(Reuters) – Netflix Inc <NFLX.O> said on Monday it plans to raise about $2 billion in debt to fund original shows, acquire content and for possible acquisitions.

The streaming giant said the debt will be in the form of senior notes denominated in U.S. dollars and euros.

Netflix, which plans to spend more than $8 billion in entertainment programming this year, reported blockbuster third-quarter results last week as heavy investment in original shows lured more customers to its fold.

(Reporting by Akanksha Rana in Bengaluru; Editing by Saumyadeb Chakrabarty)