SHANGHAI, March 16, 2012 -- Semiconductor Manufacturing International Corporation ("SMIC", NYSE: SMI; SEHK: 0981.HK), China's largest and most advanced semiconductor foundry, is pleased to announce that its subsidiary, Semiconductor Manufacturing International (Beijing) Corporation, has closed a seven-year syndicated loan in the amount of USD 600 million today, from a consortium of banks led by the China Development Bank and the Export-Import Bank of China. The new loan facility will primarily support SMIC's Beijing 12-inch fab expansion and technology development.
Dr. Tzu-Yin Chiu, Chief Executive Officer and Executive Director of SMIC, commented, "We are delighted to have obtained this loan facility. This credit arrangement shows that major Chinese policy banks and commercial banks recognize the potential of our advanced 12-inch fab in Beijing. In addition, this loan facility strengthens our capital structure, achieving an improved balance between short term and long term debt."
The other participants in the syndicated loan are China Construction Bank, Bank of Shanghai and Bank of Beijing.
Semiconductor Manufacturing International Corporation ("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) foundry and technology services at 0.35-micron to 40-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and three 200mm wafer fabs in its Shanghai mega-fab, two 300mm wafer fabs in its Beijing mega-fab, a 200mm wafer fab in Tianjin, and a 200mm fab under construction in Shenzhen. SMIC also has customer service and marketing offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. In addition, SMIC manages and operates a 300mm wafer fab in Wuhan owned by Wuhan Xinxin Semiconductor Manufacturing Corporation. For more information, please visit http://www.smics.com/