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The Open Tender for the 4th Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2018 is Successfully Completed, Saving About NT$90 Million Interest Expense

On August 6th, 2018, in response to the need of debt management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the fourth short-term borrowing 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, with a total loan of NT$15 billion. Based on the quotation submitted during price comparison, the winner has offered a weighted average annual interest rate at 0.5055%. The short-term borrowing effectively reduces the borrowing rate through the open price bidding. Compared with long-term interest rate of municipal construction, TCG could save about NT$90 million interest expense during the remaining days (364 days) of borrowing.