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Explain why a company with interest payments due in pounds sterling would want to swap those payments for interest payments due in U.S. dollars? Also

Explain why a company with interest payments due in pounds sterling would want to swap those payments for interest payments due in U.S. dollars? Also discuss if the cost advantage of interest rate swaps is likely to be arbitraged away in competitive markets, what are, then, other explanations for the rapid development of the interest rate swap market?

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