Netflix continues to sink after its junk bond announcement
|04/24/2018||Posted by BusinessMediaguide.Com under General World News||
- Shares of Netflix sank more than 4% Tuesday, their second decline in two days after the company announced an offering of $1.5 billion in junk bonds.
- The new debt will be used for “general corporate purposes,” Netflix said, which will almost definitely include more investment in original content. The company has confirmed it plans to spend $8 billion on up to 700 new shows this year.
- On it’s most recent quarterly report, Netflix said it has amassed $6.54 billion in long-term debt obligations already, something that has bearish analysts concerned for its future.
- Tuesday’s decline comes amid read more >>>