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Grupo Dragados and a group of creditors that are funding its ambitious EUR500 (USD580 million) million 1 GW wind farm development program are considering tapping the nascent wind derivative market to smooth out the earnings unpredictability caused by fluctuating wind speeds, according to DW sister publication Power Finance & Risk. If a deal is executed, it would likely mark the first time that a wind derivative has been embedded within a wind farm loan and also, given the large size of the Dragados' wind farm project, the biggest wind derivative contract ever executed. Although the factors upon which a decision will hinge could not be determined, simple economics is usually the guiding principle in such deals, according to a derivative structurer.

Westdeutsche Landesbank has hired Jean Michel Darreguet, senior trader at Bermuda-based hedge fund Ross Capital Markets, as head of equity derivatives trading in Tokyo. Darreguet said he is no stranger to the Asian markets, having traded regional equities and particularly the Japanese market, for several years from his Caribbean desk. He replaces Mike Kokalari, senior equity derivatives trader in Tokyo, who left the firm to pursue an MBA (DW, 8/31). Darreguet noted that he and Kokalari had previously worked together at the former Paribas in Tokyo.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

Take me out to the ballgame...When loan market players shouted, "Oh, no" into the phone last week, they were not concerned with the latest deal gone bad.