Netflix to raise $1 billion in debt to fund new shows

(Reuters) – Netflix Inc said on Wednesday it plans to raise about $1 billion in debt, a day after the streaming pioneer doubled its own projections for new customers as stuck-at-home users binged on original shows.

The company plans to use the proceeds to fund original shows, acquire content and for possible acquisitions.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Saumyadeb Chakrabarty)