AURORA, ON, March 31, 2014 /CNW/ - Magna International Inc.
(TSX: MG; NYSE: MGA) today announced that, on March 28, 2014, it filed a preliminary short form
base shelf prospectus with the Ontario Securities Commission (the "OSC") and
a corresponding shelf registration statement with the United States
Securities and Exchange Commission (the "SEC") on Form F-10.
Consistent with Magna's recently stated intention
to accelerate the use of its balance sheet, this filing is intended
to give the company flexibility to take advantage of financing
opportunities as it sees fit, subject to market conditions and
other relevant factors.
Once the shelf prospectus is cleared and the shelf
registration statement becomes effective, these filings will,
subject to securities regulatory requirements, provide for the
potential offering in Ontario and
the United States of up to an
aggregate of U.S. $2 billion of debt
securities from time to time over a 25-month period after the OSC
has issued a receipt for the final short form base shelf
prospectus. The terms of future offerings, if any, will be
established at the time of such offerings. At the time any of the
securities covered by the shelf prospectus and shelf registration
statement are offered for sale, a prospectus supplement containing
specific information about the terms of any such offering will be
filed with the OSC and the SEC.
A registration statement relating to these
securities has been filed with the SEC but has not yet become
effective. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. This media release shall not constitute an offer to sell
or a solicitation of an offer to buy, nor shall there be any sale
of these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to registration or
qualifications under the securities laws of any such
jurisdiction.
ABOUT MAGNA
We are a leading global automotive supplier with
316 manufacturing operations and 84 product development,
engineering and sales centres in 29 countries. We have over 125,000
employees focused on delivering superior value to our customers
through innovative products and World Class Manufacturing. Our
product capabilities include producing body, chassis, interior,
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). For
further information about Magna, visit our website at
www.magna.com.
FORWARD-LOOKING STATEMENTS
This media release may contain statements that, to
the extent that they are not recitations of historical fact,
constitute "forward-looking statements" within the meaning of
applicable securities legislation, including, but not limited to,
statements regarding future sales of our debt securities pursuant
to the shelf prospectus and registration statement referenced above
and our intention to take advantage of financing
opportunities. Forward-looking statements may include
financial and other projections, as well as statements regarding
our future plans, objectives or economic performance, or the
assumptions underlying any of the foregoing. We use words such as
"may", "would", "could", "should" "will", "likely", "expect",
"anticipate", "believe", "intend", "plan", "forecast", "outlook",
"project", "estimate" and similar expressions suggesting future
outcomes or events to identify forward-looking statements. Any such
forward-looking statements are based on information currently
available to us, and are based on assumptions and analyses made by
us in light of our experience and our perception of historical
trends, current conditions and expected future developments, as
well as other factors we believe are appropriate in the
circumstances. However, whether actual results and
developments will conform to our expectations and predictions is
subject to a number of risks, assumptions and uncertainties, many
of which are beyond our control, and the effects of which can be
difficult to predict. These risks, assumptions and
uncertainties include, without limitation, the impact of: economic
or political conditions on consumer confidence, consumer demand for
vehicles, and vehicle production; fluctuations in relative currency
values; legal claims and/or regulatory actions against us; changes
in credit ratings assigned to us; changes in laws and governmental
regulations; liquidity risks as a result of an unanticipated
deterioration of economic conditions; the unpredictability of, and
fluctuation in, the trading price of our Common Shares; and other
factors set out in our Annual Information Form filed with
securities commissions in Canada
and our annual report on Form 40-F filed with the United States
Securities and Exchange Commission, and subsequent filings. In
evaluating forward-looking statements, we caution readers not to
place undue reliance on any forward-looking statements and readers
should specifically consider the various factors which could cause
actual events or results to differ materially from those indicated
by such forward-looking statements. Unless otherwise required by
applicable securities laws, we do not intend, nor do we undertake
any obligation, to update or revise any forward-looking statements
to reflect subsequent information, events, results or circumstances
or otherwise.
SOURCE Magna International Inc.