MGA - Magna Announces CAD Senior Notes Offering | Benzinga
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AURORA, Ontario, May 27, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced that it has entered into an agency agreement providing for the issuance, by way of private placement in each of the provinces of Canada, of CAD$450 million aggregate principal amount of senior unsecured notes due 2029. The notes will bear interest at an annual rate of 4.80% and will mature on May 30, 2029. The offering is expected to close on May 30, 2024, subject to customary closing conditions.
Magna intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of its existing indebtedness.
RBC Capital Markets, Scotiabank, TD Securities and CIBC Capital Markets are acting as joint bookrunners for the offering.
This release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities, in any province ...