TRW repurchases $61 million notes, exchangeables in second quarter

By Toni Weeks

San Diego, Aug. 4 - TRW Automotive repurchased $42 million of its senior notes and $19 million of its exchangeable senior notes during the three months ended July 1, according to a 10-Q filing with the Securities and Exchange Commission.

The company recorded a loss on retirement of debt of $7 million, including the write-off of a portion of debt issuance costs, discounts and premiums.

Upon settlement, the repurchased notes were retired.

Since Dec. 31, 2010, the company has repurchased a total of $155 million of the senior notes, with a related loss on retirement of debt of $14 million.

TRW Automotive is a Livonia, Mich.-based automotive supplier.

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