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The Open Tender for the Third Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2014 Is Successfully Processed, Saving About NT$120 Million in Interest Expense.

On June 18th, 2014, in response to the need of fund management, the Department of Finance of Taipei City Government held an open tender for the third short-term borrowing of Taipei Citys debt fund in Fiscal Year 2014, with a total amount of NT$10 billion, and a maturity of 364 days. Nine financial institutions participated in the bidding process. The winning bid price was NT$ 10 billion with a weighted average annual interest rate of 0.735%, which is conversed from the base rate submitted during price comparison. By holding this open tender, the Taipei City Government could save about NT$120 million in interest expense.

The Open Tender for the Second Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2014