Hi Im trying to understand the different part of the pricing of swaps for an issuer who want to swap his issuance, resulting in the swap dealer paying fixed. Im a little confused as to how it works, in particular how the coupon differs from the reoffer yield that is called in the pricing call ie Mid Swap+30bps for example. What is this MS+30, is it the bond coupon? What fixed rate does the swap dealer use? If its coupon rate then whats the use of MS+30 for the pricing of the new issue swap spread over Libor the swap dealer is going to give to the issuer? Would love some insight from practitionner on how to approach this! Basically what info does the swap dealer need to price a fair spread over Libor to the Issuer who wants to swap his issuance. Thanks!