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.