Koch Energy Trading announced the placement of a $50 million weather bond in November 1999. The three-year transaction is based on the annual performance of a fixed portfolio of 28 weather derivative contracts, each of which is individually based on the temperature experience at 19 locations in the United States. Koch Energy Trading, a subsidiary of Wichita, Kansas-based Koch Industries Inc, completed this first-ever weather securitization transaction through Kelvin Ltd. and Goldman, Sachs & Co.
