1920-84 Loan Funding

Summary and scope

Council invites tenders for the provision of loan finance of Ten Million Dollars ($10 million). Tenderers are required to provide a fixed interest rate for 5 years fully amortising over 10 years for a loan totalling $10 million. Council seeks to be able to rollover the loan at 5 years. Council must have the right to redeem any amount of principal without cost at the time of fixing a new interest rate for a subsequent period of time. The 10 year loan term should be flexible in allowing Council to redeem such at any stage during the loan term with the redemption price / benefit being based on the market conditions at the time of redemption. The formula for calculating the price / benefit should be clearly articulated in the tender response. All enquiries regarding the tender process or the Contract must be directed to Council via the City of Greater Dandenong / Vendor Panel website Question section. Tenderers are advised that the Principal will not process any requests for tender clarification that are received within four working days prior to the Closing Time and Date for Lodgement of Tenders.