mr debt worries

Just watched the Alan Kohler 'Inside Business' interview and for me the interesting thing is that Rowsthorn suggests not all the money raised will go into debt reduction - he is quite specific on numbers and talks about raising '2.350' billion and having existing debt of 4.8b but only vaguely talking about ending up with debt 'just south of 3b'. I had expected that all but about 50m for working capital would go toward reducing debt to 2.5b. I do wonder whether they have alternate expansion plans? Shareholders really need to be told what this circa 500m will be used for - especially as it represents a capital raising amount equivalent to 15% of the entire company.