Netflix expected to price $2 billion equivalent two-part 10.5-year bullet on Tuesday

By Paul A. Harris

Portland, Ore., Oct. 22 – Netflix, Inc. expects to price a $2 billion equivalent amount of non-callable 10.5-year senior notes (Ba3/BB-) in two tranches on Tuesday, according to market sources.

The deal, which was set to be marketed by means of a Monday investor conference call, is coming in dollar-denominated notes with early price talk in the 6 3/8% area and euro-denominated notes with early talk in the 4 5/8% area, a trader said.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A and Regulation S for life notes offering.

The Los Gatos, Calif.-based media services provider plans to use the proceeds for general corporate purposes.

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