AURORA, Ontario, September 16, 2015 /PRNewswire/ --
Magna International Inc. (TSX: MG, NYSE: MGA) today
announced that it has entered into an underwriting agreement
providing for the issuance of U.S.$650
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 4.150% and
will mature on October 1, 2025. The
offering is expected to close on September
23, 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.
Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner
& Smith Incorporated and RBC Capital Markets, LLC 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. 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:
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
+1-800-831-9146
prospectus@citi.com
Merrill Lynch, Pierce,
Fenner & Smith Incorporated
222 Broadway
New York, NY 10038
Attn: Prospectus Department
dg.prospectus_requests@baml.com
RBC Capital Markets, LLC
Three World Financial Center
200 Vesey Street
New York, NY 10281
Attn: Debt Capital Markets
+1-866-375-6829
usdebtcapitalmarkets@rbccm.com
ABOUT MAGNA
We are a leading global automotive supplier with 287
manufacturing operations and 81 product development, engineering
and sales centres in 29 countries. We have approximately 124,000
employees focused on delivering superior value to our customers
through innovative products and 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.
please contact Vince Galifi,
Executive Vice-President and Chief Financial Officer at
+1-905-726-7100 or Louis Tonelli,
Vice-President, Investor Relations at +1-905-726-7035.