hedge and security

What's the connection between the hedge and the security for the debt raised to acquire Paddington?

From the clarification letter recently, it appears the hedge was entered into "in connection with the debt component of the fund-rasing transaction, which included the issue of the convertible notes". I assume that means the hedge was meant as security.

So if the hedge falls over, does that mean the security has to be replaced by some other instrument?

Can anyone explain the implications?

Kon