The financial reports show mme's only debt until now has...

The financial reports show mme's only debt until now has been to service the loan book. No balance Sheet debt - it's all been in the Warehouse structures. This bond issuance is to grow the business, according to the statements. Many companies issue new shares to raise cash, and in doing so dilute shareholders. Taking on debt to grow the business, as opposed to supporting the loan book, is aggressive, and to my mind, very welcome. This business is grossly undervalued and will correct at some point. My guess is it will pop this calendar year, helped by September results announcements - assuming they beat expectations, which their statements lead one to believe is super likely.