AURORA, ON, Nov. 17, 2015 /PRNewswire/ - Magna International Inc. (TSX: MG, NYSE: MGA) today announced that it has entered into an underwriting agreement
providing for the issuance of €550 million aggregate principal amount
of its senior unsecured notes pursuant to an effective shelf
registration statement previously filed with the Securities and
Exchange Commission.
The notes will bear interest at an annual rate of 1.900% and will mature
on November 24, 2023. The offering is expected to close on November 24,
2015, subject to customary closing conditions.
Magna intends to use the net proceeds from the offering for general
corporate purposes, including capital expenditures and the previously
announced acquisition of the Getrag Group of Companies.
BNP Paribas, Citigroup Global Markets Limited and Merrill Lynch
International, are acting as joint book-running managers for the
offering.
The notes are not being qualified for distribution in Canada but will be
offered in Canada on a private placement basis.
This release shall not constitute an offer to sell or a solicitation of
an offer to buy any securities, nor shall there be any sale of these
securities, in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Financial Conduct Authority (FCA) stabilization rules
apply.
The offering of these securities may be made only by means of a
prospectus supplement and accompanying prospectus. Copies of the
prospectus supplement and the accompanying prospectus can be obtained
from:
BNP Paribas
10 Harewood Avenue
London, NW1 6AA
United Kingdom
Attention: Fixed Income Syndicate
Tel: +44 (0)20 7595 8222
Toll Free: +1 (800) 854-5674
Fax: +44 (0)20 7595 2555
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| Citigroup Global Markets Limited
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Toll Free: +1 (800) 831-9146 prospectus@citi.com |
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| Merrill Lynch International
222 Broadway
New York, NY 10038
Attn: Prospectus Department dg.prospectus_requests@baml.com |
ABOUT MAGNA
We are a leading global automotive supplier with 285 manufacturing
operations and 83 product development, engineering and sales centres in
29 countries. We have approximately 125,000 employees focused on
delivering superior value to our customers through innovative processes
and World Class Manufacturing. Our product capabilities include
producing body, chassis, exterior, seating, powertrain, electronic,
vision, closure and roof systems and modules, as well as complete
vehicle engineering and contract manufacturing. Our Common Shares trade
on the Toronto Stock Exchange (MG) and the New York Stock Exchange
(MGA).
FORWARD LOOKING STATEMENTS
This release may contain statements which constitute "forward-looking
statements" under applicable securities legislation and are subject to,
and expressly qualified by, the cautionary disclaimers that are set out
in Magna's regulatory filings. Please refer to the prospectus
supplement relating to the offering of senior unsecured notes, as well
as Magna's most current Management's Discussion and Analysis of Results
of Operations and Financial Position, Annual Information Form and
Annual Report on Form 40-F, as replaced or updated by any of Magna's
subsequent regulatory filings, which set out the cautionary
disclaimers, including the risk factors that could cause actual events
to differ materially from those indicated by such forward-looking
statements.
EUROPEAN ECONOMIC AREA NOTICE
This document has been prepared on the basis that any offer of notes in
any Member State of the European Economic Area will be made pursuant to
an exemption under the Prospectus Directive from the requirement to
publish a Prospectus for offers of notes. The expression Prospectus
Directive means Directive 2003/71/EC (as amended), and includes any
relevant implementing measure in the Member State concerned.
UK NOTICE
The communication of documents or materials relating to the issue of the
notes is only being made to those persons in the United Kingdom falling
within the definition of investment professionals (as defined in
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (the "Order")) or high net worth entities falling
within Article 49(2)(a) to (d) of the Order, or to any other persons to
whom it may otherwise be lawfully communicated under the Order (such
persons together being "Relevant Persons"). The transactions
contemplated herein will be available only to, or engaged in only with,
Relevant Persons, and such documents or materials must not be relied or
acted upon by persons other than Relevant Persons.
SOURCE Magna International Inc.