Magna International has secured a $2.25 billion revolving credit facility from a group of lenders. The loan replaces a $2 billion revolving credit facility that was due to mature on July 31, 2012.
The new facility is scheduled to mature on July 8, 2015. The Canadian auto supplier appointed Bank of Nova Scotia, Citigroup Global Markets and Merrill Lynch, Pierce, Fenner & Smith as lead underwriters.
Click here for the release from PR Newswire.