Semiconductor Manufacturing International Corporation (SMI) says that its wholly-owned subsidiary, Semiconductor Manufacturing International (Shanghai) Corporation, has successfully closed the five-year US$600 million secured term loan facility with a consortium of international and Chinese banks.

ABN AMRO Bank N.V., Bank of China (Hong Kong) Limited, Bank of Communications, The Bank of Tokyo-Mitsubishi UFJ, Ltd., China Construction Bank, DBS Bank Ltd., Fubon Bank (Hong Kong) Limited, Industrial and Commercial Bank of China and Shanghai Pudong Development Bank were the coordinating arrangers and China Construction Bank acted as the facility and security agent for the Facility. The Facility is guaranteed by SMIC.

Dr. Richard R. Chang, Chief Executive Officer of SMIC, said, "This represents SMIC's debut in the international syndicated loan markets and we are very pleased that we have received overwhelming support from a large number of international and PRC banks. In total, eighteen banks, including ten international and eight PRC banks from eight different countries/regions have participated in this Facility. This Facility, one of the largest syndicated loans closed in China so far this year, was significantly oversubscribed – having received a total commitment of close to US$850 million. This Facility will provide significant benefits to SMIC Shanghai and will support SMIC Shanghai's future growth through improved loan pricing, more flexible loan covenants and extended maturity."

Stephen Ho, Managing Director and Head of Communications, Media & Technology, DBS Bank Ltd, said "We are very pleased to bring this deal to successful fruition. This syndication has attracted strong interest from a diversified group of domestic and international banks. We believe that this Facility has provided SMIC with greater financial flexibility for its future expansion."


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