At the same time, the company also plans to issue $ 400 million perpetual subordinated convertible bonds with a 2% coupon.
SMIC announced last night that it is planning to issue the Placing Shares under the Placing and / or the issue of the Subordinated Perpetual Subordinated Convertible Securities, and each of Datang and the National IC Fund has been informed in a non-legally binding letter of intent The Company, which intends to exercise its pre-emptive rights in respect of the placing and issue of the CPV, in the maximum amount entitling it to each of its respective entitlements under the Datang Purchase Agreement and the State IC Fund Purchase Agreement and the additional allotment of principal amount Approximately US $ 100 million of the CPIC Subconcession and additional allocated CM Subordinated Convertible Securities with a principal amount of up to US $ 300 million.
Terms and conditions for the exercise of the preemptive right of the CDC and the National IC Funds in respect of the placing and issue of the CPVs and the above additional allotments have substantially the same terms and conditions as the issuance of such securities to international investors, Except for the conditions for obtaining the approval of the independent shareholders of the Company and the necessary government approvals.
As of the announcement date, the Company was not informed by Country Hill whether it is interested in the exercise of the pre-emptive rights in respect of the placing and issue of the CPIC.
Each of Datang Hong Kong and Xinxin Hong Kong has made a lock-up undertaking in respect of its shares held directly (or through nominees) for a period of 90 days to enable the orderly conduct of the Placing Shares and the placing of the Sub-Schedules The marketing, distribution and trading of the convertible securities will not be public offering of the Placing Shares or placing of the Subordinated Perpetual Convertible Securities in the United States.