Magna Announces Senior Notes Offerings

About this update from Magna International Inc.

[{"type":"text","content":"Magna Announces Senior Notes Offerings\n\n\n\n AURORA, Ontario, May 14, 2025 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) has announced that it has entered into underwriting agreements in respect of the offering of one series of Euro denominated senior notes (“Euro senior notes”) and one series of U.S. dollar denominated senior notes (“U.S. dollar senior notes”), as follows:\n \n\n\n\n\n\n\n Principal Amount\n \n\n\n\n Maturity\n \n\n\n\n Annual Interest Rate\n \n\n\n\n\n Euro Senior Notes\n \n\n €575,000,000\n \n\n May 21, 2031\n \n\n 3.625%\n \n\n\n\n U.S. Dollar Senior Notes\n \n\n $400,000,000\n \n\n June 1, 2035\n \n\n\n 5.875%\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n Magna intends to use the net proceeds from the offerings of the Euro senior notes and the U.S. dollar senior notes for general corporate purposes, which may include the repayment of its existing indebtedness.\n \n\n The offering of Euro senior notes is expected to close on May 21, 2025 and the offering of U.S. dollar senior notes is expected to close on May 22, 2025, in each case, subject to customary closing conditions. The Euro senior notes and U.S. dollar senior notes will each be offered 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 supplements filed with the Ontario Securities Commission.\n \n\n BNP PARIBAS, BofA Securities, Citigroup, Commerzbank and ING are acting as joint book-running managers for the offering of Euro senior notes, and BofA Securities, Citigroup, J.P. Morgan, BNP PARIBAS, RBC Capital Markets, Scotiabank, TD Securities and Wells Fargo Securities are acting as joint book-running managers for the offering of U.S. dollar senior notes.\n \n\n 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 Euro senior notes and U.S. dollar senior notes are not being qualified for distribution in Canada but will be offered in Canada on a private placement basis to certain...

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