April 23, 2018 / 12:34 PM / 10 months ago

Netflix to raise $1.5 billion in debt

The Netflix logo is shown in this illustration photograph in Encinitas, California, U.S., on October 14, 2014. REUTERS/Mike Blake/Files

(Reuters) - Netflix Inc said on Monday it planned to raise $1.5 billion in debt as the video streaming pioneer continues a rapid expansion in production of original shows.

The company said it intends to use the net proceeds from the offering for general corporate purposes, which may include content acquisitions, production.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Saumyadeb Chakrabarty

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