Open Tender for the 2nd Short-term Borrowing of Taipei City's Sinking Fund in the Fiscal Year 2015 Processed Successfully with Savings in Interest Expense Exceeding 100 Million NTD.
For the purpose of debt consolidation, the Dof of TCG held an open tender for the 2nd short-term borrowing of Taipei City's sinking fund in the fiscal year 2015 on the 4th of February, 2015. Six financial institutions participated in the bidding process. The winning bids totaled 15 billion NTD with an annual interest rate of 0.7927% (calculated by the base rate submitted at the time of the bidding process). The DoF saved over 100 million NTD in interest expense for the TCG with the open tender (compared with the interest rates of mid- to long- term municipal development loans).