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Protect the profitability of your investments against the uncertainties of the financial markets.

Are your business, projects or assets exposed to fluctuations in interest rates, exchange rates, commodity prices or inflation? Are you planning to hedge these risks? Do you need to understand your exposure and the issues associated with these sometimes complex market transactions? Do you need support in negotiating and executing them?    

 

ESTER's experts advise you on the most appropriate hedging strategies.
Our role at your side: quantify, secure, optimise. In full independence.   

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APEXenergies
OMNES
TAV_Airports
Akuo
Schroders
apax partners
Sanofi
RIVP
Orange
CDCHabitat
Loreal
mirova

Refinancing was masterfully orchestrated with meticulous timing (...) I was impressed to see that ESTER's quotes were sometimes less than one euro apart from bank quotes.

Portrait client développeur ENR

ENR developer

VP Finance

The combination of ESTER technical expertise and our relationship with the banks have enabled us to execute in only one week, result exceeding our expectations.

Portrait client société de projet

Private Equity

CFO

I am very pleased to have called on ESTER as Hedge Advisor for a major fibre transaction (...). Interest rate hedging was one of the most fluid aspects of this project's financing.

Portrait client fonds d’infrastructure

Infrastructure Fund

Partner

Key areas where we are active
A long-standing benchmark partner for the renewable energies sector

For many years, we have been supporting renewable energy developers of all sizes around the world.  As investors' growing appetite for this asset class puts yields under pressure, it is more essential than ever to structure, negotiate and execute an optimal rate hedge (or even pre-hedge) for projects. 

  • AHEAD OF CLOSING
    Your project is potentially exposed to interest rates well in advance of the financial close. Effective pre-hedging solutions make it possible to secure a large part of the cost of interest rate hedging even at the stage when the project company is still an empty shell, or even an SPV in the process of being set up. The same applies to currency risk management.
  • DURING STRUCTURING OF FINANCING
    Each type of financing and each sponsor has its own characteristics, and markets evolve. The structuring phase is essential to determine the most effective strategy in line with the objectives and constraints of the sponsors, while optimising costs.
  • DURING NEGOTIATIONS WITH HEDGING BANKS
    Hedging documentation is included in the credit agreement, the master agreement and the transaction confirmation, and, where applicable, in the inter-creditor agreement. We work alongside lawyers to secure and optimise clauses relating to hedging that have an actual or potential financial impact, in the best interests of our clients.
  • AT FINANCIAL CLOSE
    The execution of hedging instruments must be carefully prepared and supervised to ensure the timing of financial conditions. Our consultants supervise and optimise this process with pinpoint precision and allow our clients to execute in the best conditions. At the end of the chain, the confirmations issued by the underwriting banks are checked point by point.
  • REGULAR ASSISTANCE : AN ESTER SUBSCRIPTION
    Equip yourself with a trading room: In addition to each individual transaction, ESTER provides its subscriber clients with relevant market information and prices on a regular basis or on request, as well as assistance on all topics related to the lifecycle of hedges as and when required.
  • AD HOC STUDIES
    A refinancing opportunity? A new project? Need an in-depth analysis of existing risks and hedging solutions? ESTER can provide you with all the technical expertise you need to help you understand your exposure and make the right decisions at the right time.
Customised support
Some of our recent assignments around the world
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