That’s right.
Sarah can offer Michael Interest Rate Risk Management solutions to hedge $12m, starting in 12 months’ time for a maximum of 4 years, as well as solutions to hedge the remaining $13m for five years.
Not quite.

Sarah can offer Michael Interest Rate Risk Management solutions to hedge $12m, starting in 12 months’ time for a maximum of 4 years, as well as solutions to hedge the remaining $13m for five years.