Cooper Industries plans to retire $275 million of debt in November

By Jennifer Chiou

New York, Oct. 22 - Cooper Industries plc said that as a result of its record $569 million of free cash flow during the first nine months of the year, it is in a position to retire its $275 million of debt in November.

The free cash flow amount is after $70.8 million of capital expenditures and compares to the previous record of $473.4 million for the first nine months of 2008.

The debt retirement will help preserve the company's financial flexibility, the Dublin electrical products manufacturer said in a news release.

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