Open Tender for the 4th Short-term Borrowing of Taipei City's Sinking Fund in the Fiscal Year 2015 Processed Successfully with Savings in Interest Expense Exceeding 167 Million NTD.
For the purpose of debt consolidation, the Dof of TCG held an open tender for the 4th short-term borrowing of Taipei City's sinking fund in the fiscal year 2015 on the 11th of June, 2015. Twelve financial institutions participated in the bidding process. The winning bids totaled 19 billion NTD with an annual interest rate of 0.65% (calculated by the base rate submitted at the time of the bidding process). The DoF saved over 167 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).