Magna International Files Underwriting Agreement

Ticker: MGA · Form: 6-K · Filed: 2024-03-11T00:00:00.000Z

Sentiment: neutral

Topics: underwriting-agreement, debt-offering, equity-offering, foreign-private-issuer

Related Tickers: MGK

TL;DR

Magna inked a deal with big banks (BNP, BofA, Citi) on March 5th, filing it today.

AI Summary

Magna International Inc. filed a Form 6-K on March 11, 2024, reporting an Underwriting Agreement dated March 5, 2024. This agreement was made among Magna International Inc. and underwriters including BNP Paribas Securities Corp., BofA Securities, Inc., and Citigroup Global Markets Inc. The filing indicates Magna International Inc. is a foreign private issuer and will file its annual reports under Form 40-F.

Why It Matters

This filing signals a potential capital raising or debt issuance activity by Magna International, which could impact its financial structure and future investments.

Risk Assessment

Risk Level: low — This is a routine filing reporting a standard underwriting agreement, not indicating immediate operational or financial distress.

Key Players & Entities

FAQ

What is the purpose of the Underwriting Agreement dated March 5, 2024?

The filing does not specify the exact purpose of the underwriting agreement, but it is a standard document used in capital markets transactions, such as the issuance of debt or equity.

Who are the parties involved in the Underwriting Agreement?

The parties are Magna International Inc. and the underwriters: BNP Paribas Securities Corp., BofA Securities, Inc., and Citigroup Global Markets Inc.

What type of filing is this Form 6-K?

This is a Report of Foreign Private Issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.

Under which form will Magna International Inc. file its annual reports?

Magna International Inc. will file its annual reports under Form 40-F.

Who signed the Form 6-K on behalf of Magna International Inc.?

Bassem A. Shakeel, Vice-President, Associate General Counsel and Corporate Secretary, signed the Form 6-K.

From the Filing

0001171843-24-001284.txt : 20240311 0001171843-24-001284.hdr.sgml : 20240311 20240311135806 ACCESSION NUMBER: 0001171843-24-001284 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240311 FILED AS OF DATE: 20240311 DATE AS OF CHANGE: 20240311 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MAGNA INTERNATIONAL INC CENTRAL INDEX KEY: 0000749098 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11444 FILM NUMBER: 24737447 BUSINESS ADDRESS: STREET 1: 337 MAGNA DRIVE STREET 2: N/A CITY: AURORA, ONTARIO, CAN STATE: A6 ZIP: L4G 7K1 BUSINESS PHONE: 9057262462 MAIL ADDRESS: STREET 1: 337 MAGNA DRIVE STREET 2: N/A CITY: AURORA, ONTARIO, CAN STATE: A6 ZIP: L4G 7K1 6-K 1 f6k_031124.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of March 2024 Commission File Number 001-11444 MAGNA INTERNATIONAL INC. (Exact Name of Registrant as specified in its Charter) 337 Magna Drive, Aurora, Ontario, Canada L4G 7K1 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F [ ] Form 40-F [X] SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. MAGNA INTERNATIONAL INC. (Registrant) Date: March 11, 2024 By: /s/ “Bassem Shakeel” Bassem A. Shakeel, Vice-President, Associate General Counsel and Corporate Secretary EXHIBITS Exhibit 99 Underwriting Agreement, dated March 5, 2024, among the Registrant and BNP Paribas Securities Corp., BofA Securities, Inc. and Citigroup Global Markets Inc., as representatives of the several underwriters named therein. EX-99 2 exh_99.htm EXHIBIT 99 Exhibit 99 Magna International Inc. $400,000,000 5.050% Senior Notes due 2029 Underwriting Agreement New York, New York March 5, 2024 To the Representatives named in Schedule I hereto of the several Underwriters named in Schedule II hereto Ladies and Gentlemen: Magna International Inc., a corporation organized under the laws of Ontario (the “ Company ”), proposes to sell to the several underwriters named in Schedule II hereto (the “ Underwriters ”), for whom you are acting as representatives (the “ Representatives ”), the principal amount of its securities identified in Schedule I hereto (the “ Securities ”), to be issued under an indenture (the “ Base Indenture ”) dated as of June 16, 2014, between the Company and The Bank of New York Mellon, as trustee (the “ Trustee ”), as supplemented by the eighth supplemental indenture (the “ Eighth Supplemental Indenture ” and, together with the Base Indenture, the “ Indenture ”) to be dated as of the Closing Date (as defined below), between the Company and the Trustee. Certain terms used herein are defined in Section 25 hereof. The Company has prepared and filed a short form base shelf prospectus, dated February 26, 2024 (the “ Canadian Base Prospectus ”), in respect of senior debt securities with the Ontario Securities Commission (the “ OSC ”) in accordance with National Instrument 44-101 – Short Form Prospectus Distributions , Companion Policy 44-101CP, National Instrument 44-102 – Shelf Distributions , Companion Policy 44-102CP and exemptions provided for in Ontario Instrument 44-501 – Exemption from Certain Prospectus Requirements for Well-known Seasoned Issuers (Interim Class Order) (collectively, the “ Shelf Procedures ”), and has been issued a final receipt by

View on Read The Filing