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XYZ is a BBB rated company with a credit spread of 1.50%. It expects interest rate will increase in future. Today, it wants to lock

XYZ is a BBB rated company with a credit spread of 1.50%. It expects interest rate will increase in future. Today, it wants to lock in the 3-month interest rate between 3/20/2020 and 6/20/2020. Currently, 3/2020 Eurodollar futures price is 97.70 and 6/2020 Eurodollar futures price is 97.55.

At which rate, can XYZ lock in to borrow in 3/2020?

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