Apple would like to borrow South Korean won , and Samsung wants to borrow dollars. Because Apple is better known in the United States, it can borrow on dollars at 3.6% and won at 5.1%, whereas Samsung can on its own borrow dollars at 4.2% and won at 4.6%. Suppose Apple wants to borrow 1,187 million for five years, Samsung wants to borrow $1 million for five years, and the current (/$) exchange rate is 1,187/$. What swap transaction would accomplish this objective? Assume the counterparties would exchange principal and interest payments with no rate adjustments.

(Please include currency symbols $, in your answer)

(QSD, Diagram,Cost saving?)