In April 2017, consulting firm Booz Allen Hamilton announced it had signed an interest rate swap. The interest rate swap effectively converted $150 million of variable rate debt at LIBOR for payments at 1.963 percent. Why would Booz Allen Hamilton use a swap agreement? In other words, why didn’t the company go ahead and issue fixed rate bonds because the net effect of issuing floating rate bonds and then doing a swap is to create a fixed rate bond?