August 10, 2017
WHEFA Bond Financing Helps Agnesian HealthCare, Inc. Refinance in Waupun and Fond du Lac,and Construct on behalf of The Christian Home and Rehabilitation Center in Waupun and the Town of Chester
Bonds Underwritten by Wells Fargo Securities
“WHEFA plays a critical role in our debt financing strategies. Through WHEFA’s assistance and support, we will be building a much-needed long-term care replacement facility in a community we serve. By helping us access low-cost tax-exempt financing, our partnership with WHEFA furthers our charitable purpose to provide care for and improve the health of the populations we serve.”
— Bonnie Schmitz,
Vice President & Chief Financial Officer,
Agnesian HealthCare, Inc.
Bond financing facilitated by WHEFA will be used to help Agnesian HealthCare, Inc. (“Agnesian”) finance the acquisition, construction, and equipping of a new replacement skilled nursing and assisted living facility in the Town of Chester, Wisconsin, on behalf of The Christian Home and Rehabilitation Center, as well as the construction and equipping of an addition to the existing memory care facility operated by Christian Home in Waupun, Wisconsin. Bond proceeds were also used to refinance bonds previously issued by WHEFA in 2010 and 2012. The net present value savings following the refinancing was approximately $3.7 million. This federally tax-exempt financing process has enabled Agnesian to operate more effectively by financing its capital expenses at lower interest rates (3.00-5.00%).
WHEFA is proud to have been able to assist Agnesian reduce their overall debt service by providing access to low-cost private capital.