Companies A and B have been offered the following rates per annum on a $$20$ million five$-$year loan:

Fixed Rate

Floating Rate

Company A

$5\mathrm{.}0\%$

LIBOR$+0\mathrm{.}1\%$

Company B

$6\mathrm{.}4\%$

LIBOR$+0\mathrm{.}6\%$

Company A requires a floating$-$rate loan; company B requires a fixed$-$rate loan. Both companies enter into a swap that will net a bank, acting as intermediary, $0\mathrm{.}1\%$ per annum and that will appear equally attractive to both companies.

What is company B$\text{'}$s effective borrowing rate?

A$.6\mathrm{.}4\%$

B$.6\%$

C$.$ LIBOR $+0\mathrm{.}6\%$

D$.$ LIBOR $-0\mathrm{.}3\%$