On Friday, MGM announced that it was increasing the amount to be offered through senior notes. It had initially announced the offering at $500 million, but apparently decided that this wasn’t enough and has now raised the amount to $1 billion. While the company did not provide a reason for the increase, it has previously said that the funds gathered from the offering would be used for “general purposes.”

Subject to regulatory closing conditions, the transaction is expected to close today, June 18. The offering for the notes is set to terminate in 2025.

Some of the options for the funds include debt refinancing, acquisition funding, stock buybacks or dividend payments. MGM could also use net proceeds to invest in securities, short-term interest-bearing accounts or other investments.

According to a press release, “The notes being offered will be general unsecured senior obligations of the Company, guaranteed by substantially all of the Company’s wholly owned domestic subsidiaries that guarantee the Company’s other senior indebtedness, and equal in right of payment with all existing or future senior unsecured indebtedness of the Company and each guarantor.”