Bonds of French Medical Lab Firms Drop Over Subsidy Cut Report

Bonds issued by French medical laboratory companies recorded steep declines on Friday as a government agency called for a reduction of public sector subsidies to private operators.

Biogroup’s notes due 2029 plummeted around 6.3 cents on the euro to 86.5 cents, the biggest daily drop on record, while Cerba’s senior secured bonds due 2028 fell over 2 cents to 67.7 cents at 12:40 p.m. London time, according to data compiled by Bloomberg. Synlab’s 2031 bonds dropped just under 1.3 cents to 106.6 cents, the data show.

The report by the Inspection Générale des Finances — published last month, and cited ...