Provision of a $12.1 Million Loan

⁠⁠⁠The Greater Geelong City Council (Council) seeks to borrow $12.1 million over a term of 10 years with a fixed interest rate (Principal & Interest).

Council seeks the $12.1 million dollar loan for a period of 10 years commencing with drawdown by approximately 23 May 2018 and concluding May 2028.

Council requires a schedule which shows fixed quarterly payments broken down into interest and principle for the term of the loan. The tender response is to include interest rate and loan repayment schedule. The interest rate is to be inclusive of all fees and charges for the term of the loan.

The tender response is to include an outline of the loan finalisation process and a sample of the documentation (viz., the Loan Agreement) required for completion and execution of the loan. The tender response may also include any additional information which may be deemed to support the submission provided by the Tenderer.

Council will evaluate the tender submission/s and will announce the final decision on Wednesday 16 May 2018. Loan drawdown to be undertaken on Wednesday 23 May 2018 with the successful tenderer.

The successful tenderer is expected to draw up an agreement and arrange drawdown of the loan within the timeframes indicated above.

Tender Released: Saturday, 5 May 2018
Tender Closes: 12:00 noon, Wednesday, 16 May 2018
Tender Accepted: Wednesday, 16 May 2018
Loan Commences: Wednesday, 23 May 2018
For tender queries, please contact Paul Taylor on 03 5272-4288.