A hybrid swap which combines a commodity swap with an interest rate swap. In this swap, a floating rate (such as LIBOR) is exchanged for a fixed rate linked to a particular commodity price/ price index. For example, a food producing company could link the price of its main inputs (sugar, cacao, flour, etc) to the cost of its debt. This company may choose to receive LIBOR and pay a fixed rate based on a respective commodity’s price/ or price index.