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Semiconductor Manufacturing 'l : SMIC Announces Proposed Issue of US$600 Million 2.693% Bonds Due 2025

02/20/2020 | 07:14pm EDT

SHANGHAI, Feb. 20, 2020 /PRNewswire/ -- Semiconductor Manufacturing International Corporation ("SMIC", the "Company"; SEHK: 981; OTCQX: SMICY) one of the leading semiconductor foundries in the world, announces that on 20 February 2020, the Company and the Joint Lead Managers (J.P. Morgan, ICBC International, Barclays, UBS, SPDB International, ICBC MACAU, Silk Road International and BNP Paribas) entered into the Subscription Agreement, pursuant to which each of the Joint Lead Managers has agreed to subscribe and pay for, or to procure subscribers to subscribe and pay for the Bonds to be issued by the Company in an aggregate principal amount of US$600 million.

Approval in-principle has been received for the listing of and quotation for the Bonds on the SGX-ST. The SGX-ST assumes no responsibility for the correctness of any statements made or opinions expressed in this announcement.

Completion of the Subscription Agreement is subject to the satisfaction or waiver of the conditions precedent therein and is expected to take place on 27 February 2020. In addition, the Subscription Agreement may be terminated in certain circumstances. Please refer to the paragraph headed ''The Subscription Agreement'' under the section ''Issue of the Bonds'' below for further information.


The gross proceeds from the issue of the Bonds will be approximately US$600 million.

The net proceeds (net of fees, commissions and expenses) from the issue of the Bonds will be approximately US$596.5 million.

The Company intends to use the net proceeds (net of fees, commissions and expenses) from the issue of the Bonds for capital expenditure for capacity expansion and other general corporate purposes.

Shareholders and potential investors should note that completion of the issue of the Bonds is subject to the fulfilment of the conditions under the Subscription Agreement. As the issue of the Bonds may or may not proceed, Shareholders and potential investors are reminded to exercise caution when dealing in the securities of the Company.

For the full details of this announcement please see the filing:

About SMIC

Semiconductor Manufacturing International Corporation ("SMIC" SEHK: 981; OTCQX: SMICY), one of the leading foundries in the world, is Mainland China's most advanced and largest foundry, broadest in technology coverage, and most comprehensive in semiconductor manufacturing services. SMIC provides integrated circuit (IC) foundry and technology services on process nodes from 0.35 micron to 14 nanometer. Headquartered in Shanghai, China, SMIC has an international manufacturing and service base. In China, SMIC has a 300mm wafer fabrication facility (fab) , a 200mm fab and a majority-owned joint-venture 300mm fab for advanced nodes (under construction) in Shanghai; a 300mm fab and a majority-owned 300mm fab for advanced nodes in Beijing; 200mm fabs in Tianjin and Shenzhen; and a majority-owned joint-venture 300mm bumping facility in Jiangyin. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan China, and a representative office in Hong Kong China.

For more information, please visit www.smics.com.

Forward-Looking Statements

This press release contains, in addition to historical information, forward-looking statements. These forward-looking statements are based on SMIC's current assumptions, expectations, beliefs, plans, objectives, and projections about future events or performance. SMIC uses words like "believe," "anticipate," "intend," "estimate," "expect," "project," "target, "going forward", "continue", "ought to", "may", "seek", "should", "plan", "could", "vision", "goals", "aim", "aspire", "objective", "schedules", "outlook" and similar expressions to identify forward looking statements, although not all forward-looking statements contain these words. These forward-looking statements are necessary estimates reflecting judgment of SMIC's senior management and involve significant risks, both known and unknown, uncertainties and other factors that may cause SMIC's actual performance, financial condition or results of operations to be materially different from those suggested by the forward-looking statements including, among others, risks associated with cyclicality and market conditions in the semiconductor industry, intense competition in the semiconductor industry, SMIC's reliance on a small number of customers, timely wafer acceptance by SMIC's customers, timely introduction of new technologies, SMIC's ability to ramp new products into volume, supply and demand for semiconductor foundry services, industry overcapacity, shortages in equipment, components and raw materials, availability of manufacturing capacity, financial stability in end markets, orders or judgments from pending litigation, intensive intellectual property litigation in the semiconductor industry, general economic conditions and fluctuations in currency exchange rates.

In addition to the information contained in this press release, you should also consider the information contained in our other filings with The Hong Kong Stock Exchange Limited ("SEHK") from time to time. Other unknown or unpredictable factors also could have material adverse effects on our future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated or, if no date is stated, as of the date of this press release. Except as required by applicable laws, SMIC undertakes no obligation and does not intend to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events after the date on which such statement is made or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or otherwise.


Investor Relations

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SOURCE Semiconductor Manufacturing International Corporation

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