$($c$)$ Seeler Muller wishes to borrow $300$ million euros for five years at a floating rate to firuance an investment projoct in Gormany. The chenpest rate at whth it can raiten such a loan is Euro LiBOR $+0\mathrm{.}75\%$

The company's bankers have suggested that one of their client companies, Overath Maier, woutd be interested in a swap arrangement. This company needs a fived interest loan at $300$ milion. The cheapest rate at which it can arrange the loan is $10\mathrm{.}5\%$ per annum. It could, however, borrow in euros at the floating rate of euro LiBOR $+1\mathrm{.}5\%$

Seeler Muller can issue a food interest five$-$year bond at $9\%$ per annum interest. The banker would charge a swap arrangement foe of $0\mathrm{.}15\%$ per year to both parties.

Required:

You are required to devise a swap by which both parties can benefit.