Vestas Yield Dips as Turbine Orders Stream In: Copenhagen MoverGelu Sulugiuc
The yield on Vestas Wind System A/S’s benchmark 2015 note fell to its lowest in Copenhagen trading in seven weeks as investor confidence grows amid an order uptick.
Vestas’ 4.625 percent 600 million-euro ($769 million) bond maturing in 2015 yielded 7.404 percent at 12:20 p.m. in the capital, according to the Composite Bloomberg Bond Trader prices. That’s the lowest since the yield hit 7.352 on May 22.
Vestas has reported more than twice as many announced orders since March than in the first quarter as the Latin American market expands. Announced firm and unconditional orders from the region jumped 87 percent in the second quarter for the industry as a whole from the previous three months, according to data compiled by Bloomberg Industries.
“Strong regional growth continues unabated” in the Latin American wind market, James Evans, a Bloomberg Industries analyst, wrote in a report. Vestas is among producers benefiting from local manufacturing operations to win orders greater than 100 megawatts, he said.