Midday Commentary: DFC Global mostly flat in active trade; USEC adds but still trades in low 30s

By Rebecca Melvin

New York, April 3 - DFC Global Corp.'s sister convertibles remained active and were essentially flat early Thursday despite shares that were a little higher.

The DFC paper dominated trade on Wednesday after news that the Berwyn, Pa.-based financial services company is being acquired by private equity firm Lone Star Funds LLC.

The longer-dated DFC Global, or Dollar, 3.25% convertibles were seen last at 97 after trading a little below that in the early going.

Elsewhere, trading was quiet. Bankrupt USEC Inc. saw some action, however. The Bethesda, Md.-based nuclear fuel and service company saw its 3% convertibles due October 2014 trade at 33.8, which was up 1.8 points, according to Trace data, with the underlying shares of the company dropping 3% to $3.73.

USEC's convertibles traded as high as 40 in early March after the company filed a pre-packaged Chapter 11 bankruptcy plan as expected in the U.S. Bankruptcy Court for the District of Delaware.

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