Magna International (MGA) said Wednesday that it has launched two senior notes offerings, comprising 3.625% 575 million euros ($642.8 million) notes and 5.875% $400 million notes.
The euro notes are due May 21, 2031, whereas, the dollar notes have a maturity of June 1, 2035. The offerings are expected to close May 21 and May 22, respectively.
The Canadian auto parts maker said it plans to use the proceeds from both the offerings for general corporate purposes, which may include the repayment of its existing indebtedness.
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