The Open Tender for the 5th Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2017 is Successfully Completed, Saving About NT$115 Million on Interest Expense
On August 7th, 2017, in response to the need of fund management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the fifth short-term borrowing of Taipei City's debt fund in Fiscal Year 2017. Five financial institutions participated in the bidding process, and the winner of the bidding was Taiwan Business Bank, with a total loan of NT$15 billion. Based on the quotation submitted during price comparison, the winner has offered an annual interest rate at 0.425%. The short-term borrowing effectively reduces the borrowing rate through the open price bidding. Compared with long-term interest effective on various municipal borrowing schemes, TCG is set to save about NT$115 million interest on expense during the remaining days(364) of borrowing.
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