The bond yields for Vestas Wind Systems A/S declined to match its lowest level in over two years in trading at the Copenhagen bourse. The bond yield dropped after the Danish turbine manufacturer had sold off its machining and casting business units.

The EUR600 million or USD810 million yield was pegged at 4.625% bond due on 2015 fell 22 basis points to 4.84% at late mornng trading today. This matched its previous lowest level, registered last May 2011, according to prices found at the Composite Bloomberg Bond Trader.

Many bondholders saw their investment grow as shareholders lost nearly 5% on news that the company agreed to sell off its units in order to save neary EUR30 million in the next couple of years. For its part, Vestas would absorb a EUR50 million writedown on the sale which would be conducted at a price of EUR1 plus EUR25 million depending on the future performance of the units. The said writedown would disappoint share investors but overall these actions would prove beneficial in the long run.