By Marisa Wong
Madison, Wis., Dec. 18 – Semiconductor Manufacturing International Corp. priced an additional $22.2 million of zero-coupon convertible bonds due 2018, according to a 6-K filing with the Securities and Exchange Commission.
The add-on bonds were issued at 101.5 on Dec. 4.
The bonds will be consolidated and form a single series with the original $200 million of bonds issued on Nov. 7, 2013, the additional $86.8 million of bonds issued on May 29, 2014 and the $95 million add-on issued on June 24.
Deutsche Bank AG, Hong Kong Branch and J.P. Morgan Securities plc were the joint bookrunners and joint managers with J.P. Morgan Securities plc as the global coordinator.
Except for the issue date and price, the latest bonds have the same terms and conditions as the original issue.
As previously reported, the initial conversion price for the bonds is HK$0.7965, which represents a premium of 26.43% over the closing price of HK$0.63 on June 4, 2014.
Proceeds of the Regulation S deal will be used for capacity expansion associated with eight-inch and 12-inch manufacturing facilities as well as general corporate purposes.
The semiconductor foundry is based in Shanghai.
| Issuer: | Semiconductor Manufacturing International Corp.
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| Issue: | Convertible bonds (add-on)
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| Amount: | $22.2 million
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| Maturity: | Nov. 7, 2018
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| Coupon: | 0%
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| Price: | 101.5
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| Initial conversion premium: | 26.43%
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| Initial conversion price: | HK$0.7965
|
| Joint bookrunners: | Deutsche Bank AG, Hong Kong Branch and J.P. Morgan Securities plc
|
| Share reference price: | HK$0.63 at close June 4, 2014
|
| Settlement date: | Dec. 4
|
| Distribution: | Regulation S
|
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