BankUnited in Miami Lakes, Fla., plans to raise about $400 million from a debt offering.

The $23 billion-asset company will issue 4.875% senior notes due 2025, according to a filing with the Securities and Exchange Commission. The transaction is expected to close Tuesday.

BankUnited expects to receive about $393 million in proceeds from the offering. It plans to use the proceeds for general corporate purposes, including investments in and advances to its bank subsidiary.

Bank of America Merrill Lynch and JPMorgan Chase are lead managers on the offering. Skadden, Arps, Slate, Meagher & Flom is legal counsel to BankUnited.

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