1)ABC Firm in an oil and gas industry issued a500million USD face value, 500 million USD amount fixed rate, debt at 5%per annum to fund a new investment plan. The Chief Risk Officer (CRO) at the firm has advised that the firm convert this debt into a floating rate obligation by using the interest rate swap market. In this regard, he has identified four other firms interested in swapping their debt from floating to a fixed rate. The table below shows the different rates at which all the five firms can borrow in the market. LIBOR 6 is the London Interbank Borrowing Rate for 6 months in terms of USD.