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Department of Finance

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The Open Tender for the 3rd Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2018 is Successfully Completed, Saving About NT$111 Million Interest Expense for TCG

On June 4th, 2018, in response to the need of debt management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the third short-term borrowing of Taipei City’s debt fund in Fiscal Year 2018.

 

Four financial institutions participated in the bidding process, and the winning bidders were Bank Of Taiwan and Cathay United Commercial Bank, with a total loan of NT$19 billion. Based on the quotation submitted during price comparison, the winning bidders have offered a weighted average annual interest rate at 0.5148%. It could effectively reduce the borrowing rate through the open price bidding. Compared with the long-term interest rate of municipal construction, it could save about NT$111 million interest expense during the remaining days (364) of borrowing for TCG.