I presume you mean the reason for this borrowing. My...

I presume you mean the reason for this borrowing.
My understanding is it would be to use the fact that MDL now has a cash flow. It frees TiZr to use more of the large rasing this year to fund the maintaine/ upgrade of the Tyssedal smelter later this year.

If the banks have done due dilligenc for the funding begs the quetion where's the reason for the extreme share price slide. I'll go back to another stock that also got funding a couple of weeks ago. None of that says the TiO2 price wont be reasoably firm.