By Wendy Van Sickle
Columbus, Ohio, Nov. 18 – Semiconductor Manufacturing International Corp. entered into a subscription agreement on Monday for a $200 million add-on to its 0% convertible bonds due 2022 to be issued at a price of 116, according to a notice.
The convertibles will be consolidated and form a single series with the $450 million of convertibles issued by the company in June 2016.
The Regulation S add-on is being sold via UBS as bookrunner.
Proceeds of the deal will be used for capital expenditures, for capacity expansion and for other general corporate purposes.
The semiconductor foundry is based in Shanghai.
| Issuer: | Semiconductor Manufacturing International Corp.
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| Issue: | Convertible bonds
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| Amount: | $200 million add-on
|
| Initial issue: | $450 million issued in June 2016
|
| Maturity: | July 7, 2022
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| Bookrunner: | UBS
|
| Coupon: | 0%
|
| Price: | 116
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| Initial conversion premium: | 4%
|
| Initial conversion price: | HK$10.73
|
| Calls: | Non-callable until July 7, 2020, then provisionally callable at 130% price hurdle
|
| Puts: | On July 7, 2020
|
| Share reference price: | HK$10.28 at close on Nov. 19
|
| Stock symbols: | Hong Kong: 981; NYSE: SMI
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| Pricing date: | Nov. 18
|
| Distribution: | Regulation S
|
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