AURORA, Ontario, September 18, 2017 /PRNewswire/ --
Magna International Inc. (TSX: MG; NYSE: MGA) today announced
that it has entered into an underwriting agreement providing for
the issuance of €600 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 "SEC") and a short form base shelf prospectus and
prospectus supplement filed with the Ontario Securities
Commission.
The notes will bear interest at an annual rate of 1.500% and
will mature on September 25, 2027.
The offering is expected to close on September 25, 2017, subject to customary closing
conditions. Magna intends to use the net proceeds from the offering
for general corporate purposes.
BNP Paribas, Merrill Lynch International, ING Bank N.V. and
Citigroup Global Markets Limited are acting as joint book-running
managers for the offering.
The notes are not being qualified for distribution in
Canada.
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 for free by visiting EDGAR on the SEC's website at
http://www.sec.gov or 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
Merrill Lynch International
222 Broadway
New York, NY 10038
Attn: Prospectus Department
dg.prospectus_requests@baml.com
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
ING Bank N.V.
Foppingadreef 7
1102 BD Amsterdam
The Netherlands
Tel: +31 20 563 8035
OUR BUSINESS (1)
We are a leading global automotive supplier with 327
manufacturing operations and 100 product development, engineering
and sales centres in 29 countries. We have over 161,000 employees
focused on delivering superior value to our customers through
innovative products and processes, and world class manufacturing.
We have complete vehicle engineering and contract manufacturing
expertise, as well as product capabilities which include body,
chassis, exterior, seating, powertrain, active driver assistance,
vision, closure and roof systems and have electronic and software
capabilities across many of these areas. 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" or "forward looking information"
(collectively, "forward looking statements") under applicable
securities legislation, including, but not limited to, statements
relating to: the expected closing date of the offering and the
intended use of the net proceeds from the offering 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 release relates to a prospectus supplement and accompanying
prospectus which has been prepared on the basis that any offer of
securities 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 in accordance with
Article 3 of the Prospectus Directive for offers of securities. The
expression Prospectus Directive means Directive 2003/71/EC (as
amended), and includes any relevant implementing measure in the
Member State concerned.
UK NOTICE
This release is for distribution only to persons who (i) have
professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Financial
Promotion Order"), (ii) are persons falling within Article 49(2)(a)
to (d) ("high net worth companies, unincorporated associations
etc.") of the Financial Promotion Order, (iii) are persons falling
within Article 47 of the Financial Promotion Order, (iv) are
outside the United Kingdom, or (v)
are persons to whom an invitation or inducement to engage in
investment activity (within the meaning of section 21 of the
Financial Services and Markets Act 2000) in connection with the
issue or sale of any securities may otherwise lawfully be
communicated or caused to be communicated (all such persons
together being referred to as "relevant persons"). This release is
directed only at relevant persons and must not be acted on or
relied on by persons who are not relevant persons. Any investment
or investment activity to which this document relates is available
only to relevant persons and will be engaged in only with relevant
persons.
(1) Manufacturing operations, product development,
engineering and sales centres and employee figures include certain
equity-accounted operations.
INVESTOR CONTACT: Louis Tonelli,
Vice-President, Investor Relations, louis.tonelli@magna.com │
+1-905-726-7035; MEDIA CONTACT: Tracy
Fuerst, Director of Corporate Communications & PR,
tracy.fuerst@magna.com │ +1-248-631-5396