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Netflix Selling Another $2 Billion In Junk Bonds To Fund War With Disney

•, By Tyler Durden

Exactly six months after Netflix sold $2 billion in junk bonds, just as the market was starting its Q4 turmoil, the company on Tuesday announced it was selling another $2 billion in high yield debt in what has become a bi-quarterly tradition, in order to fund its cash burning business and help it expand its already massive content offering as the company comes under growing pressure from media giants including Apple, AT&T and now, the biggest challenger of all, Disney.

While terms of the offering have yet to be disclosed, it will be interesting to see if Netflix has to give generous concessions as it did back in October, when the online streaming service had to offer yields "at the high end" of its price expectations - the first time it has had to do so in its history - mostly as a result of the rout in junk bonds at the end of 2018.

Just like last time, the streaming company said it was selling $2 billion of bonds in a two-part offering denominated in dollars and euros. The proceeds will be used for general corporate purposes - read investing even more in content, production and development as the war with price-indiscriminate market entrant Disney is about to turn nuclear.