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Department of Finance

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The Open Tender for the 5th Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2018 is Successfully Completed, Saving About NT$129 Million Interest Expense

On October 26, 2018, in response to the need of debt management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the fifth short-term borrowing NT$22 billion of Taipei City's debt fund in Fiscal Year 2018.

 

Two financial institutions participated in the bidding process, and the winner of the bidding was Bank of Taiwan. Based on the quotation submitted during price comparison, the winner has offered a weighted average annual interest rate at 0.5399%. The short-term borrowing effectively reduces the borrowing rate through the open price bidding. The interest rate of this loan is compared with long-term of municipal construction, TCG could save about NT$129 million interest expense during the remaining days(364 days) of borrowing.