How do you work this issue? I am not sure how to start a collar.

Thank you

IBM issued a 7 year 400 million British pound interest only loan in 2010. The loan was syndicated by the lead manager J.P Morgan at coupon interest rate of 1-year LIBROR plus 75 basis points. IBM received net proceed of 98.2 per 100 face values after underwriting spread. Currently it is April, 6, 2017 and this loan is coming due in 3 months and IBM is concerned about possible devaluation of the U.S. dollar. IBM treasurer is contemplating to hedge its exposure by creating a collar in the option market. Using the attached quote sheet answer the following questions.The call and put have 3 months to maturity.