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The Open Tender for the 6th Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2017 is Successfully Completed, Saving About NT$170 Million Interest Expense

On October 30th, 2017, in response to the need of debt management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the sixth short-term borrowing of Taipei City's debt fund in Fiscal Year 2017.

 

Four financial institutions participated in the bidding process, and the winner of the bidding was Bank Of Taiwan, with a total loan of NT$22 billion. Based on the quotation submitted during price comparison, the winner has offered a weighted average annual interest rate at 0.4195%. 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$170 million interest expense during the remaining days(364) of borrowing.