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Magna Announces Filing of Shelf Prospectus and Registration Statement

AURORA, Ontario, 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 jurisdiction.

ABOUT MAGNA

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 http://www.magna.com.

FORWARD-LOOKING STATEMENTS

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.

For further information:

For further information, or to obtain a copy of the preliminary prospectus contained in the registration statement, please contact Vince Galifi, Executive Vice-President and Chief Financial Officer at +1-905-726-7100 or Louis Tonelli, Vice-President, Investor Relations at +1-905-726-7035.

(MG. MGA)

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