AURORA, Ontario, August 15, 2017 /PRNewswire/ --
Magna International Inc. (TSX: MG; NYSE: MGA) today announced
that it filed a preliminary short form base shelf prospectus
("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.
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 final short form base shelf prospectus is receipted by
the OSC and the shelf registration statement becomes effective,
these filings will, subject to securities regulatory requirements,
qualify for issuance in the United
States up to an aggregate of US$2
billion of debt securities from time to time over a 25-month
period. The terms of future offerings, if any, will be established
at the time of such offerings. At the time any of the debt
securities 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. The shelf
prospectus has been filed with the OSC but remains subject to
completion or amendment. No debt securities may be sold nor
may offers to buy be accepted prior to the time the registration
statement becomes effective and until a receipt for the final short
form base shelf prospectus has been issued by the OSC. 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 the issuance of a receipt for the final short
form base shelf prospectus by the OSC, the filing of a prospectus
supplement with the OSC and registration or qualifications under
the securities laws of any such jurisdiction.
OUR BUSINESS (1)
We are a leading global automotive supplier with 327
manufacturing operations and 100 product development, engineering
and sales centres in 29 countries. We have over 161,000 employees
focused on delivering superior value to our customers through
innovative products and processes, and world class manufacturing.
We have complete vehicle engineering and contract manufacturing
expertise, as well as product capabilities which include body,
chassis, exterior, seating, powertrain, active driver assistance,
vision, closure and roof systems and have electronic and software
capabilities across many of these areas. 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.
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(1) Manufacturing operations, product development,
engineering and sales centres and employee figures include certain
equity-accounted operations.
FORWARD-LOOKING STATEMENTS
This press 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 potential for a deterioration of economic
conditions or an extended period of economic uncertainty; a decline
in consumer confidence, which would typically result in lower
production volume levels; 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, including tax and transfer pricing laws; liquidity
risks; 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 SEC, 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.
INVESTOR CONTACT: Louis Tonelli,
Vice-President, Investor Relations , louis.tonelli@magna.com,
+1-905-726-7035; MEDIA CONTACT: Tracy
Fuerst, Director of Corporate Communications & PR,
tracy.fuerst@magna.com, +1-248-631-5396