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Magna Establishes U.S. $500 Million Commercial Paper Program
Magna Establishes U.S. $500 Million Commercial Paper Program Magna Establishes U.S...
About this update from Magna International Inc.
[{"type":"text","content":"\n\n\n\nMagna Establishes U.S. $500 Million Commercial Paper Program\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 U.S. $500 Million Commercial Paper Program\nCanada NewsWire\nAURORA, ON, July 15, 2016\n\n\n\nAURORA, ON, July 15, 2016 /CNW/ - Magna International Inc. (TSX: MG; NYSE: MGA) announced today that it has established a U.S. commercial paper program (the \"Program\"). Under the Program, Magna International Inc. (the \"Company\") may issue, from time to time, commercial paper notes (the \"Notes\") up to a maximum aggregate amount of U.S. $500,000,000. The Program 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\nThe Notes to be offered under the Program will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy Notes under the Program.\n\nABOUT MAGNA\n\nWe are a leading global automotive supplier with 306 manufacturing operations and 92 product development, engineering and sales centres in 29 countries.  We have over 147,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. These figures include manufacturing operations, product development, engineering and sales centres and employees in equity accounted operations. 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 information\" and \"forward-looking statements\" under applicable securiti...