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According to Netflix's filings with the Securities and Exchange Commission (SEC), the firm received a $5 billion revolving line of credit from banks. Moreover, the firm obtained two loans of $10 billion, each having terms of two and three years.
Bridge loans are generally utilized to address short-term funding requirements and are often employed by businesses while formulating acquisition plans. They are usually refinanced with cheaper instruments weeks or months post loan issuance.
Institutions that offered Netflix the bridge loan are Wells Fargo & Co., BNP Paribas SA, and HSBC Holdings.
The firm intends to tap into the capital markets to refinance the outstanding portion of the bridge loan.
source: bloomberg.com
Bridge loans are generally utilized to address short-term funding requirements and are often employed by businesses while formulating acquisition plans. They are usually refinanced with cheaper instruments weeks or months post loan issuance.
Institutions that offered Netflix the bridge loan are Wells Fargo & Co., BNP Paribas SA, and HSBC Holdings.
The firm intends to tap into the capital markets to refinance the outstanding portion of the bridge loan.
source: bloomberg.com