YouCanDoIt

it states that fixed payments are based on 365 days in a year….and in the swap that he has entered…he has to pay a fixed rate (5.25%) on EUR 15 mil.
hence fixed rate payment : 0.0525 x 15,000,000 x 180/365
to the bank he has to pay 4.75 (libor) + .005 (50 basis points) on EUR 15 mil and he receives ( from the swap agreement) only 4.75 (libor when the swap was initiated) on EUR 15 mil….these are floating rate payments and will be made on a basis of 180 days
hope this helps