Press Release - Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
Magna has also amended its 364-day syndicated revolving credit facility, including to increase the size of the facility from
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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 up to an aggregate of
A registration statement relating to these securities has been filed with the
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We are a mobility technology company. We have over 165,000 entrepreneurial-minded employees, 346 manufacturing operations and 94 product development, engineering and sales centres in 27 countries. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities that include body, chassis, exteriors, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. Our common shares trade on the
1 Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.
Certain statements in this press release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements"). Any such forward-looking statements are intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, strategic objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact. We use words such as "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "aim", "forecast", "outlook", "project", "estimate", "target" and similar expressions suggesting future outcomes or events to identify forward-looking statements.? Forward-looking statements in this press release include, but are not limited to, statements relating to the potential to take advantage of future financing opportunities through sales of debt securities pursuant to the shelf prospectus and registration statement referenced above.
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. While we believe we have a reasonable basis for making any such forward-looking statements, they are not a guarantee of future performance or outcomes. Whether actual results and developments 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, including, without limitation: economic cyclicality; risks related to the COVID-19 (Coronavirus) pandemic, including its economic effect(s); liquidity risks; reduced financial flexibility due to an economic shock; changes in credit ratings assigned to us; and other factors set out in our Annual Information Form filed with securities commissions in
Source: Magna International Inc.