Netflix announced today that it will raise another $1.5 billion in debt to fund content production, development and acquisitions.

In its Q1 2018 results released last week, the global streamer committed to spending between USD$7.5 and $8 billion on content this year. The company also said it would continue to raise debt to fund its expansion in original content.

Netflix has produced originals in 17 countries to date, including foreign-language productions such as the Brazilian sci-fi 3% and Spanish action/drama Casa de Papel (Money Heist), as well as popular Canadian copros Anne and Alias Grace. In a call with investors on Apr. 16, chief content officer Ted Sarandos said Netflix expects to produce more original local productions going forward. 

Today’s proposed $1.5 billion offering of senior notes is Netflix’s latest announcement that it will raise debt to fund its content expansion. Most recently, in October 2017, the streamer announced it would raise $1.6 billion. In both instances, the streamer said it would use the proceeds from its offering “for general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions.”