Hedge Accounting – Interest and Forex

If a Company obtains a foreign currency loan and decided to not to hedge their forex and interest rate risks due to market conditions.

After 1 years time of the loan, due to fluctuating nature of interest rate and forex, the company enters in to hedges.

will IAS 39 prevent the hedge accounting for those forex and interest hedges ? Since at the inception of the loan, no hedges have been taken.

In case if IAS 39 prevents, please let me know the para number?

Thanks in Advance!!!