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Actionable news in MGA: MAGNA INTERNATIONAL,

Magna: Aurora, Ontario L4G 7K1

The following excerpt is from the company's SEC filing.

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November 17, 2015, Aurora, Ontario, CanadaMagna International Inc. (TSX: MG, NYSE: MGA)

today announced that it has entered into an underwriting agreement providing for the issuance of 550 million aggregate principal amount of its senior unsecured notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.

The notes will bear interest at an annual rate of 1.900% and will mature on November 24, 2023. The offering is expec ted to close on November 24, 2015, subject to customary closing conditions.

Magna intends to use the net proceeds from the offering for general corporate purposes, including capital expenditures and the previously announced acquisition of the Getrag Group of Companies.

BNP Paribas, Citigroup Global Markets Limited and Merrill Lynch International, are acting as joint book-running managers for the offering.

The notes are not being qualified for distribution in Canada but will be offered in Canada on a private placement basis.

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 state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Financial Conduct Authority (FCA) stabilization rules apply.

The offering of these securities may be made only by means of a prospectus supplement and accompanying...