Interest rate collar

Hi sir,

I have a question in mind. We say in collar, we either buy put options and sell call options to counterparty (vice-versa) so as to minimize the premiums that we have to incur in options. And if the counterparty exercise the options that we sell and gain, we will incur the loss.
My question is should we include the loss in our effective interest rate calculation or should we not? In real life who’s the one absorbing the loss, is it intermediary who acts as a bridge btwn us and the counterparty? Or we as a seller of the options?

Many thanks sir.