TRW spends $213 million cash to retire $162 million debt in Q3, including $66 million exchangeables

By Susanna Moon

Chicago, Nov. 2 - TRW Automotive Holdings Corp. said it spent $213 million of cash to retire $162 million principal amount of debt in the third quarter, including $66 million of exchangeable notes.

As of Sept. 30, the company had $1.53 billion of debt and $890 million of cash and cash equivalents, resulting in net debt, or debt less cash and cash equivalents, of $642 million.

The net debt is $126 million lower than the balance at the end of 2010 and $388 million lower compared with the end of the third quarter the previous year, according to the company's earnings release for the third quarter.

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

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