Netflix is looking to refinance its short-term liabilities by selling US$1.8 billion in debt bonds, according to a new SEC filing that was published earlier this week. 

In the filing, Netflix says it will use the funds to manage a principal debt of US$12.2 billion and tackle its maturities, which are due next year. The streamer plans to split the bond sale into two transactions—US$1 billion (4.9% interest) will be due in 10 years, and US$800 million (5.4% interest) in 2054. 

Netflix executed a similar sale in 2020 when it raised US$1 billion in debt to acquire original content and new studios during the pandemic-era lockdowns. And as of April, the company also opened a US$3-billion revolving credit facility with Morgan Stanley that it can borrow funds from, but it has yet to withdraw any cash. 

This financial move comes two weeks after Netflix reported US$9.6 billion in Q2 revenue—a 17% jump from last year’s second-quarter results. The company also added eight million new subscribers to hit a current total of 278 million users worldwide.