Netflix Secures Major Financing Facilities for Warner Merger

Netflix ( (NFLX) ) has provided an update.

On December 19, 2025, Netflix replaced part of a previously arranged bridge financing with longer-term, lower-cost debt facilities to support its pending merger with Warner Bros. Discovery. The company entered into a $5 billion senior unsecured revolving credit facility that can be drawn for the cash portion of the merger purchase price, related transaction fees, refinancing of certain existing debt, and general corporate purposes, with flexible borrowing, prepayment and maturity extension options and interest rates linked to Netflix’s credit rating. On the same date, Netflix also secured a total of $20 billion in senior unsecured delayed draw term loan facilities, split between two- and three-year tranches, likewise earmarked primarily for funding the merger consideration and related expenses, and carrying rating-based pricing and standard financial covenants, including a minimum interest coverage ratio; together, these new facilities meaningfully de-risk the merger financing, improve funding visibility, and reduce reliance on more expensive bridge commitments for Netflix and its stakeholders.

The most recent analyst rating on (NFLX) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Netflix stock, see the NFLX Stock Forecast page.

Spark’s Take on NFLX Stock

According to Spark, TipRanks’ AI Analyst, NFLX is a Outperform.

Netflix’s overall stock score is driven by its strong financial performance and positive corporate events, including strategic acquisitions and stock splits. However, bearish technical indicators and high valuation metrics temper the score. The positive earnings call further supports Netflix’s growth prospects, despite some challenges.

To see Spark’s full report on NFLX stock, click here.

More about Netflix

Netflix, Inc. is a leading global entertainment company that operates in the streaming media and content production industry, offering subscription-based video-on-demand services and original film and television programming to consumers worldwide.

Average Trading Volume: 43,780,712

Technical Sentiment Signal: Hold

Current Market Cap: $431.3B

For an in-depth examination of NFLX stock, go to TipRanks’ Overview page.