Netflix formally announced it is seeking to offer $400 million aggregate principal amount of 10-year senior notes due 2024 to institutional investors, coin it expects to use for acquiring original content and expanding into Europe. The Internet streaming leader had disclosed plans to raise the additional debt when it reported fourth-quarter 2013 earnings last month. As of Dec. 31, 2013, Netflix had $500 million in 5.375% senior notes, and the company said it hopes to obtain similar terms for the new offering. “At $900 million of total long-term debt, we will have an extremely modest debt-to-equity ratio,” CEO Reed Hastings and CFO David Wells wrote in their Q4 letter to shareholders. With the additional debt, Netflix’s debt-to-equity ratio would be about 0.67 if calculated using only long-term debt. Read the full story at Variety.