Netflix Inc. (NFLX) is set to borrow $1.6 billion to finance its costly investment in original movies and television shows.

The video streaming service will raise the funds by selling bonds to investors, adding in a statement that the interest rate it will pay has yet to be decided. The debt fundraiser, Netflix’s biggest yet, marks the fourth occasion in three years that the company has tapped up more than $1 billion from bond buyers, according to the BBC.

Netflix’s latest fundraising efforts are expected to help finance its expensive content push. The company plans to spend up to $8 billion on TV shows and 80 full-length movies to compete with fast-growing rivals such as Amazon.com Inc. (AMZN), Walt Disney Company (DIS) and Hulu.

“Netflix intends to use the net proceeds from this offering for general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions,” the company said in the statement.

Two investors following Netflix’s latest fundraising effort told the Financial Times that the 10.5-year bonds will be priced with a yield of 4.785 percent. That rate represents a slight increase on the company’s existing dollar-denominated debt, which is set to mature in 2026, and indicates that Netflix plans once again to borrow money at a cheaper rate than 

Netflix’s move to take on more corporate debt comes amid growing subscriber growth and expectations that the Federal Reserve could hike borrowing costs in coming months.

“The timing is perfect,” said Invesco high yield analyst Rahim Shad, according to the Financial Times. “They are coming off of very strong numbers. The market is completely open. It is a great deal for the company and equity investors if they can tap the bond market at these levels but as a creditor you always think about the underlying risk.”

Netflix’s aggressive content push has prompted some analysts to warn that the company’s debt pile is spiraling out of control. The internet subscription service is burning through cash and doesn’t expect to break even for a long time. Netflix is currently rated B1 by Moody’s and B-plus by S&P Global, ratings that put the company in junk territory. (See also: Junk Bonds: Everything You Need To Know.)

Netflix is hopeful that its expansion outside of the U.S. and ramping up of original content will trigger enough earnings growth to comfortably pay off its debts. The company, which recently pledged to raise prices in countries including the U.S. and the U.K. for the first time in two years, points to stronger than expected subscriber growth in the third quarter as a sign that its expensive strategy is paying off. (See also: Will Netflix Price Hikes Raise Its Stock Price?)

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