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Magna Establishes Euro500 Million Euro-Commercial Paper Programme
Magna Establishes €500 Million Euro-Commercial Paper Programme Magna Establ...
About this update from Magna International Inc.
[{"type":"text","content":"\n\n\n\nMagna Establishes €500 Million Euro-Commercial Paper Programme\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMagna Establishes €500 Million Euro-Commercial Paper Programme\nCanada NewsWire\nAURORA, ON, Feb. 3, 2016\n\n\n\nAURORA, ON, Feb. 3, 2016 /CNW/ - Magna International Inc. (TSX: MG; NYSE: MGA) announced today that it has established a euro-commercial paper programme (the \"Programme\"). Under the Programme, an indirect wholly-owned subsidiary of Magna International Inc. (the \"Company\") may issue, from time to time, euro-commercial paper notes (the \"notes\") up to a maximum aggregate amount of €500 million or its equivalent in alternative currencies. Any notes issued will be guaranteed by the Company and the Programme will be backstopped by the Company's existing global credit facility. The proceeds from the issuance of any notes will be used for general corporate purposes. \n\nING Bank N.V. is acting as the Arranger of the Programme and the notes will be offered through a commercial paper dealer group consisting of Bank of America Merrill Lynch International Limited, BNP Paribas, Citibank Europe plc, UK Branch and ING Bank N.V.\n\nABOUT MAGNA\n\nWe are a leading global automotive supplier with 305 manufacturing operations and 95 product development, engineering and sales centres in 29 countries.  We have over 139,000 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, 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).  \n\nFORWARD-LOOKING STATEMENTS\n\nThis 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...