Plain Vanilla Swap

Just see: Swap. That's all this is. Plain. Simple. No embedded warrants or swaptions or calls on swaps in buckets or groups in multiple currencies. It's just a swap: $100 million of euro-denominated debt for $100 million in U.S. dollar-denominated debt.

That's it. Nothing more, nothing less. Plain. Vanilla. Not even a caramel ribbon.