Netflix has lowered its borrowing costs and increased the size of its new bond deal being sold to investors today, reflecting strong demand for the streaming giant’s debt.

The company is looking to sell $900m of bonds with a coupon of 5.375 per cent, up from initial expectations of $750m at 5.63 per cent, according to people familiar with the details. There will also be a €1.2bn bond at 3.88 per cent. Both slugs of debt are expected to have a maturity of 10.5 years.

In a statement, Netflix said it would use the money in part to buy and make content as it seeks to fend off looming competition in the streaming video market it pioneered. Disney, Apple, AT&T’s WarnerMedia and Comcast are all plotting streaming services to debut in the coming year.