The company announced Monday it intends to issue a new round of notes for "general corporate purposes, which may include content acquisitions, production and development, capital expenditures, investments, working capital and potential acquisitions and strategic transactions."
Shares of Netflix fell as much 3 percent Monday, but erased most of those losses to close roughly 1 percent down.
The $2 billion adds to the growing debt burden on Netflix's balance sheet. The company reported almost $12 billion in total debt as of Sept. 30.
At the same time, Netflix is burning cash at faster and faster rates.