Magna International Files Credit Facility Amendment

Ticker: MGA · Form: 6-K · Filed: 2024-04-02T00:00:00.000Z

Sentiment: neutral

Topics: credit-facility, amendment, financing

TL;DR

Magna updated its global credit facility on March 28th, filed April 2nd.

AI Summary

Magna International Inc. filed a Form 6-K on April 2, 2024, reporting an amendment to its global credit facility dated March 28, 2024. This filing is made as a material contract amendment.

Why It Matters

This filing indicates a change or update to Magna's financing arrangements, which could impact its financial flexibility and operational capacity.

Risk Assessment

Risk Level: low — This is a routine filing reporting an amendment to an existing credit facility, not a significant event like a default or major financial distress.

Key Players & Entities

FAQ

What is the primary purpose of this Form 6-K filing?

The primary purpose is to report an amendment to Magna International Inc.'s global credit facility, filed as a material contract.

When was the amendment to the credit facility made?

The amendment to the global credit facility was made on March 28, 2024.

Who signed this 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.

What is Magna International Inc.'s principal executive office address?

Magna International Inc.'s principal executive office is located at 337 Magna Drive, Aurora, Ontario, Canada L4G 7K1.

Does Magna International Inc. file annual reports under Form 20-F or Form 40-F?

Magna International Inc. files annual reports under Form 40-F.

From the Filing

0001171843-24-001771.txt : 20240402 0001171843-24-001771.hdr.sgml : 20240402 20240402151238 ACCESSION NUMBER: 0001171843-24-001771 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 228 CONFORMED PERIOD OF REPORT: 20240402 FILED AS OF DATE: 20240402 DATE AS OF CHANGE: 20240402 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: 24813657 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_040224.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 April 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 ☒ 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. Date: April 2, 2024 MAGNA INTERNATIONAL INC. (Registrant) By: /s/ “Bassem Shakeel” Bassem A. Shakeel, Vice-President, Associate General Counsel and Corporate Secretary EXHIBITS Exhibit 99 March 28, 2024 amendment to Registrant’s global credit facility filed as a material contract (amended) with the regulatory authorities of the Registrant’s principal and other provincial jurisdictions in Canada. EX-99 2 exh_99.htm EXHIBIT 99 Exhibit 99 SEVENTH AMENDMENT TO CREDIT AGREEMENT among MAGNA INTERNATIONAL INC., AND THE OTHER BORROWERS IDENTIFIED HEREIN as Borrowers - and - THE FINANCIAL INSTITUTIONS IDENTIFIED HEREIN as Lenders - and - THE BANK OF NOVA SCOTIA, CITIGROUP N.A., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, BNP PARIBAS SECURITIES CORP. and EXPORT DEVELOPMENT CANADA as Co - Lead Arrangers and Co - Bookrunners - and - THE BANK OF NOVA SCOTIA as Administrative Agent - and - THE BANK OF NOVA SCOTIA as European Agent - and - CITIBANK, N.A. CANADIAN BRANCH, BANK OF AMERICA, N.A., BNP PARIBAS SECURITIES CORP, and EXPORT DEVELOPMENT CANADA as Co - Syndication Agents - and - CANADIAN IMPERIAL BANK OF COMMERCE, ROYAL BANK OF CANADA, and THE TORONTO - DOMINION BANK as Documentation Agents - and - 4140 - 6823 - 4062.6 COMMERZBANK AG, NEW YORK BRANCH, ING BANK N.V., AMSTERDAM, LANCY/GENEVA BRANCH, JPMORGAN CHASE BANK, N.A., HSBC BANK CANADA, and WELLS FARGO Bank, N.A., CANADIAN BRANCH as Senior Managing Agents - and - RAIFFEISEN BANK INTERNATIONAL AG, BANK OF CHINA, NEW YORK BRANCH, INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH, GOLDMAN SACHS BANK USA, and INDUSTRIAL AND COMMERCIAL BANK OF CHINA (CANADA) as Co - Agents 4140 - 6823 - 4062.6 DATED as of March 28, 2024 4140 - 6823 - 4062.6 SEVENTH AMENDMENT TO CREDIT AGREEMENT made as of the 28th day of March, 2024 . A M O N G : MAGNA INTERNATIONAL INC. and the other Borrowers indicated on the signature pages hereto (hereinafter referred to as the “ Borrowers ”), - and - THE FINANCIAL INSTITUTIONS indicated on the signature pages hereto (hereinafter referred to as the “ Lenders ”), - and - THE BANK OF NOVA SCOTIA , as administrative agent of the Lenders (hereinafter referred to as the “ Administrative Agent ”), - and - THE BANK OF NOVA SCOTIA, as European funding

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