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The Open Tender for the 2nd Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2018 is Successfully Completed, Saving About NT$60 Million Interest Expense

On May 25th, 2018, in response to the need of debt management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the second short-term borrowing of Taipei City's debt fund in Fiscal Year 2018.

 

Three financial institutions participated in the bidding process, and the winner of the bidding was Bank Of Taiwan, with a total loan of NT$10 billion. Based on the quotation submitted during price comparison, the winner has offered an annual interest rate at 0.488%. The short-term borrowing effectively reduces the borrowing rate through the open price bidding. Compared with medium and long term interest rate of the loan of municipal construction, TCG could save about NT$60 million interest expense during the remaining maturity of 364 days.