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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Landrys Restaurants, Inc. | NYSE:LNY | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.51 | 0.00 | 01:00:00 |
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 5.75 cents on the dollar 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
1 Year Landrys Restaurants Chart |
1 Month Landrys Restaurants Chart |
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