AURORA, Ontario, March 31, 2014 /PRNewswire/ --
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
http://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.
For further information:
For further information, or to obtain a copy of the preliminary
prospectus contained in the registration statement, 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.
(MG. MGA)