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Media Release - Magna announces filing of shelf prospectus and registration statement
|By PR Newswire
|March 31, 2014 06:15 PM EDT
AURORA, ON, March 31, 2014 /PRNewswire/ - Magna International Inc. (TSX: MG;
NYSE: MGA) today announced that, on March 28, 2014, it filed a
preliminary short form base 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.
Consistent with Magna's recently stated intention to accelerate the use
of its balance sheet, 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 shelf prospectus is cleared and the shelf registration
statement becomes effective, these filings will, subject to securities
regulatory requirements, provide for the potential offering in Ontario
and the United States of up to an aggregate of U.S. $2 billion of debt
securities from time to time over a 25-month period after the OSC has
issued a receipt for the final short form base shelf prospectus. The
terms of future offerings, if any, will be established at the time of
such offerings. At the time any of the securities covered by the shelf
prospectus and shelf registration statement 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. These securities may not
be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. 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
registration or qualifications under the securities laws of any such
We are a leading global automotive supplier with 316 manufacturing
operations and 84 product development, engineering and sales centres in
29 countries. We have over 125,000 employees focused on delivering
superior value to our customers through innovative products 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.
This media 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
impact of: economic or political conditions on consumer confidence,
consumer demand for vehicles, and vehicle production; 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; liquidity risks as a result of an
unanticipated deterioration of economic conditions; 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 United States Securities and Exchange
Commission, 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.
SOURCE Magna International Inc.
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