The only company planning to sell high-yield debt in the second half of the week has done so.

Mueller Water Products Inc. (MWA, MWAB) sold $225 million in a market that saw less than $3 million exchange hands in the secondary Thursday, according to data from MarketAxess. The deal, which will help the water-treatment products maker pay down its debt, including $270 million in bank loans.

The notes priced with an 8.75% coupon, at 98.37 cents on the dollar, giving initial investors a 9% yield. That's slightly higher than two of the other three companies issuing debt this week.

Other issuers this week were NRG Energy Inc. (NRG) and Toys R Us Inc., both, like Mueller, rated B1 by Moody's Investors Service, and the holding company for Landry's Restaurants Inc. (LNY), which sold $110 million in 11.5% notes at a discount to initial investors of 10 cents on the dollar.

The secondary market was slightly weaker, led for a second day by trades for NewPage Corp. That company's 11.375% notes due December 2014 have fallen points this week in sparse and volatile trading.

The Markit CDX high yield index pared yesterday's gains, dropping 0.5 point to 97.2.

-By Katherine Greene, Dow Jones Newswires; 212-416-2984; katherine.greene@dowjones.com
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