AURORA, ON,
June 11, 2014 /CNW/ - Magna
International Inc. (TSX: MG, NYSE: MGA) today announced that it
has entered into an underwriting agreement providing for the
issuance of U.S.$750 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 3.625% and will mature on June 15,
2024. The offering is expected to close on June 16, 2014, subject to customary closing
conditions.
Magna intends to use the net proceeds from the
offering for general corporate purposes, which may include capital
expenditures and acquisitions.
Citigroup Global Markets Inc. and Merrill Lynch,
Pierce, Fenner & Smith Incorporated 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. 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:
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-800-831-9146 |
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Merrill Lynch, Pierce, Fenner
& Smith
Incorporated
222 Broadway
New York, NY 10038
Attn: Prospectus Department
dg.prospectus_requests@baml.com |
ABOUT MAGNA
We are a leading global automotive supplier with
315 manufacturing operations and 82 product development,
engineering and sales centres in 29 countries. We have over 128,000
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, 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 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.
These documents are available for review on Magna's website at
www.magna.com.
SOURCE Magna International Inc.