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The Open Tender for the 5th Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2016 is Successfully Processed, Saving About NT$136 Million in Interest Expense

On August 1st, 2016, in response to the need of debt 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 2016.

 

Six financial institutions were participated in the bidding process, the awarded bidder was Taiwan business bank with a total amount of NT$15 billion, and annual interest rate of 0.291%, based on the quotation submitted during price comparison. The short-term borrowing effectively reduce the borrowing rate through the open price compete and compared with the interest rates of mid-to-long term municipal construction loans, the TCG could save about NT$136 million interest expense year around.