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.

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.

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.

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.

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.

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.