Companies A and B want to take out loans of 200 million dollars. A can borrow fixed at 3% per annum, and B can borrow fixed at 4.5% per annum. Also, A can borrow floating at Libor -0.3% and B can borrow floating at Libor +0.2%. A wants to borrow floating and B wants to borrow fixed. Give a swap structure that shares the benefit (over directly taking out the sought loans) of the swap equally between the two companies.

Suppose now that there is a financial intermediary involved who will charge a fee of 0.4%. Modify the swap structure so that A and B each contribute 2% to the fee