Netflix Raises $1 Billion Through 2036 Senior Notes to Refinance Debt Due in 2026

Netflix has completed a $1 billion public offering of 5.250% senior unsecured notes due in 2036, marking another step in the company’s long-term debt management strategy.

According to a newly filed Form 8-K with the U.S. Securities and Exchange Commission (SEC), the proceeds will primarily be used to repay Netflix’s 4.375% Senior Notes due 2026 when they mature, with any remaining funds allocated toward general corporate purposes.

Netflix refinances upcoming debt with new 2036 notes

The newly issued notes were sold through a registered public offering led by BNP Paribas Securities Corp., Morgan Stanley, RBC Capital Markets, and Wells Fargo Securities.

Netflix stated in its SEC filing that the securities were issued under its existing 2024 base indenture, along with a second supplemental indenture dated July 22, 2026.

The company said:

“The Company intends to use the net proceeds from the offering for the repayment at maturity of its outstanding 4.375% Senior Notes due 2026, and for general corporate purposes.”

The refinancing extends part of Netflix’s debt maturity profile by replacing obligations due next year with new notes that mature in 2036. Such refinancing transactions are common among large public companies seeking to manage borrowing costs and maintain financial flexibility over the long term.