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SECTION-B . 1. ATK Itd and BRK Itd decided to opt for fixed floating interest swap. As a consultant, you are required to show details
SECTION-B . 1. ATK Itd and BRK Itd decided to opt for fixed floating interest swap. As a consultant, you are required to show details of payment in case of the following two Year Fixed-to-Floating Interest Rate Swap: Notional principal $50 million Trade Date August 30, 2018 Effective date September 1, 2018 Fixed Rate 9.5% p.a. payable semiannually(Actual/360) Floating Rate 6 Month LIBOR Fixed and Floating Payment Dates Every March 1 and September 1, starting March 1, 2019 till September 1, 2021 Floating Rate Reset Dates 2 business days prior to the previous floating payment date, 11 am London time . . The floating rates evolve as follows: 30/8/2018- 9.80 % 28/2/2019-9.20 % 30/8/2019-9.50 % 27/2/2020-8.90 % 30/8/2020-9.70 % . . 27/2/2021- 10.20 %
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