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The Open Tender for the Fourth Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2014 Is Successfully Processed, Saving About NT$118 Million in Interest Expense.

On June 27th, 2014, in response to the need of fund management, the Department of Finance of Taipei City Government held an open tender for the forth short-term borrowing of Taipei City’s debt fund in Fiscal Year 2014, with a total amount of NT$ 9 billion, and a maturity of 361 days. Six financial institutions participated in the bidding process. The winning bid price was NT$ 9 billion with a weighted average annual interest rate of 0.715%, which is conversed from the base rate submitted during price comparison. By holding this open tender, the Taipei City Government could save about NT$118 million in interest expense.

 

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