Interest rate collar lecture

Hi sir at 22:55 minutes of the lecture sir why to the 6:65% we are adding the 0.18% aren’t we receiving the 0.03% so shouldn’t we deduct the 0.03% here, to the 6.9% we are adding 0.18% to look at the net interest saving by selling a call option to reduce the net premium but l didn’t get the logic as to why we are adding 0.18% to 6.65%,cause we are not paying any premium on this right?
Please explain

Thank you