SMIC Tianjin Secures Financing for Expansion
China Construction Bank led the arrangement of the Loan with other participants, which include China MingSheng Bank, China Development BankCIndustrial and Commercial Bank Of China, Agricultural Bank of China, Bank of China, China Merchants Bank, China BoHai Bank, Bank of Communications, and Bangkok Bank.
Dr. Richard R. Chang, Chief Executive Officer of SMIC, said, "We are pleased that with strong support from our banking partners, the Tianjin loan is significantly oversubscribed - exceeding our target loan amount by US$150 million. We plan to use the loan proceeds and internally generated cash flow to fund the Tianjin fab expansion. "
About SMIC
SMIC (NYSE:SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in Mainland China, providing integrated circuit (IC) manufacturing service at 0.35um to 90nm and finer line technologies. Headquartered in Shanghai, China, SMIC operates three 8-inch fabs in Shanghai and one in Tianjin, and one 12-inch fab in Beijing, the only one of its kind in Mainland China. SMIC has customer service and marketing offices in the U.S., Italy, and Japan as well as a representative office in Hong Kong. For additional information, please visit http://www.smics.com
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