Netflix to redeem 8½% senior notes due 2017 with offering proceeds

By Tali David

Minneapolis, Jan. 29 - Netflix, Inc. plans to use about $225 million from the proceeds of a $400 million senior note offering to redeem its outstanding 8½% senior notes due 2017, the company said in a news release.

The company will also pay for expenses associated with the redemption under the make-whole provision in the indenture governing the notes and intends to use the remaining net proceeds for general corporate purposes, including capital expenditures, investments, working capital and potential acquisitions and strategic transactions.

Netflix is a Los Gatos, Calif.-based movie rental company.

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