Although it says they are planning on retiring some other debts with it. I highly doubt it.
This screams that they are running out of operating cash, and costs are skyrocketing.
I wouldn't want to be working at Netflix. Layoffs coming soon. Especially since DVD thru the mail seems to be failing. I give kudos to Redbox - Coinstar for doing that.
You and your no nothing brethren have clearly been buying last 2 days.
It's DEBT, probably at the same 8.5% junk bond rate they were forced to take on last debt offering just over a year ago.
That means interest expense to burn even more cash!