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The Open Tender for the 4th Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2017 is Successfully Completed, Saving About NT$139 Million on Interest Expense

On June 5th, 2017, in response to the need of fund management, the Department of Finance (DoF), Taipei City Government (TCG) held an open tender for the fourth 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$19 billion. Based on the quotation submitted during price comparison, the winner has offered an annual interest rate at 0.4639%. The short-term borrowing effectively reduces the borrowing rate through the open price bidding. Compared with long-term interest rate effective on various municipal borrowing schemes, TCG is set to save about NT$139 million on annual interest expense.