AURORA, Ontario, February 3, 2016 /PRNewswire/ --
Magna International Inc. (TSX: MG; NYSE: MGA) announced
today that it has established a euro-commercial paper programme
(the "Programme"). Under the Programme, an indirect wholly-owned
subsidiary of Magna International Inc. (the "Company") may issue,
from time to time, euro-commercial paper notes (the "notes") up to
a maximum aggregate amount of €500 million or its equivalent in
alternative currencies. Any notes issued will be guaranteed by the
Company and the Programme will be backstopped by the Company's
existing global credit facility. The proceeds from the issuance of
any notes will be used for general corporate purposes.
ING Bank N.V. is acting as the Arranger of the Programme and the
notes will be offered through a commercial paper dealer group
consisting of Bank of America Merrill Lynch International Limited,
BNP Paribas, Citibank Europe plc, UK Branch and ING Bank N.V.
ABOUT MAGNA
We are a leading global automotive supplier with 305
manufacturing operations and 95 product development, engineering
and sales centres in 29 countries. We have over 139,000 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 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.
DISCLAIMER
This press release does not constitute or form part of any offer
or invitation to sell, or any solicitation of any offer to purchase
or subscribe nor shall it (or any part of it) or the fact of its
distribution, form the basis of, or be relied on in connection
with, any contract therefor. The offer and the distribution of this
press release and other information in connection with the offer in
certain jurisdictions may be restricted by law and persons into
whose possession any document or other information referred to
herein comes should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This press release is not an offer for sale of any securities in
the United States. Securities may
not be offered or sold in the United
States absent registration or an exemption from registration
under the U.S. Securities Act of 1933, as amended. The Company has
not registered and does not intend to register any portion of any
offering in the United States or
to conduct a public offering of any securities in the United States.
UK NOTICE
The communication of this document or any 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, and any investment or investment activity to which this
document relates will be engaged in only with, Relevant Persons,
and such documents or materials must not be relied or acted upon by
persons other than Relevant Persons.
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