Financial services regarding purchase of new train sets

Flytoget as is currently in the process of procuring 8 new train sets expected to be delivered in 2017-2018. In addition, existing train sets will be upgraded when the new train sets have been delivered and are in operation. The purchase and the upgrade shall in whole, or in part, be financed by the establishment of a revolving credit facility. Since settlement of the purchase agreement for the new train sets will be in euro, Flytoget intends to hedge its foreign exchange exposure by entering into appropriate derivatives transactions under an isda Master Agreement. The derivatives transactions are not governed by the Norwegian Utilities Procurement Regulations (forsyningsforskriften), cf. Section 1-6 (2) h. The contract will be entered into by means of a separate competition between suppliers qualified under the negotiated procedure for procurement of the credit facility. Flytoget will need to establish an immediate hedge against currency risk upon entering into the purchase agreement for the new train sets. The deadline for submitting tenders in the competition will therefore be short, and the contract may be entered into on very short notice, cf. The Utilities Procurement Regulations section 8-2 (3) d). Reference is made to Flytoget‘s contract notice regarding the establishment of the credit facility. Flytoget encourages interested suppliers to apply for qualification. Any objections regarding the procedure must be raised within 10 days of the publication of this notice, cf. Section vi. 3. 2) below. Please note that the contract award date indicated below represents only an estimate.