Netflix plans to issue a $1.8 billion debt offering, per an SEC filing published Tuesday.

It’s the company’s first debt offering since it was elevated to investment-grade status by rating agencies Moody’s and S&P Global.

The last time Netflix raised funds via debt offering was in April 2020.

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Netflix said the move, which was also announced in its quarterly letter to shareholders, will used to refinance its existing debt, which is due next year, as well as what it calls “general corporate purposes.”

The banks designated as joint book-running managers are Morgan Stanley, Goldman Sachs, JP Morgan Securities, Wells Fargo Securities, Citigroup Global Markets, Santander US Capital Markets and SG Americas Securities.

“Our management will have broad discretion in the application of the net proceeds,” wrote Netflix in its prospectus. “The purposes for which they are used may change from those described above.”

Notably, Netflix recently entered into pricey deals with the WWE and NFL in order to expand its sports offerings.

The streaming giant’s partnership with the wrestling league will cost it as much as $5 billion over 10 years, while the two NFL games set to broadcast on Christmas Day will cost a reported $150 million.

Netflix’s debt sale will occur in two parts: $1 billion due in 2034 with 4.9% interest, and $800 million due in 2054 with a 5.4% interest rate.