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News Sep 26, 2017

Shearman & Sterling Advises on Magna International's €600 Million Notes Offering

Shearman & Sterling represented BNP Paribas, Merrill Lynch International, ING Bank and Citigroup Global Markets, as joint book-running managers, and CIBC World Markets, MUFG Securities EMEA , RBC Europe Limited, Scotiabank Europe, TD Securities (USA), Banco Santander, Bank of Montreal, Commerzbank Aktiengesellschaft, HSBC Bank, J.P. Morgan Securities, ICBC Standard Bank and Raiffeisen Bank International, as co-managers, in connection with a €600 million senior notes offering by Magna International. The notes pay interest at a rate of 1.5% per annum due 2027.

Magna is a Canadian global automotive supplier with 327 manufacturing operations and 100 product development, engineering and sales centers in 29 countries.

The Shearman & Sterling team included partners Jason Lehner (Toronto/New York – Capital Markets) and Laurence Crouch (Menlo Park – Tax); counsel Kevin Roggow (Toronto – Capital Markets) and Mehran Massih (London – Environmental); and associates Daniel Frost (London – Financial Institutions Advisory & Financial Regulatory), Heather Pals, Ryan Robski (both Toronto – Capital Markets) and Emalie Sundale (Menlo Park – Tax).