November 2, 2017
WHEFA Bond Financing Helps Aspirus, Inc. Construct and Expand in
Wausau and Wisconsin Rapids
Bonds Underwritten by Barclays Capital & Piper Jaffray & Co.
“Aspirus continues to be a fast-growing Wisconsin based health system with total revenue growth of $301 million or 40.2% over the last three years. The availability of tax exempt financing, and the assistance of the WHEFA staff in securing that financing, has been critical to the construction and renovation of our facilities required to accommodate that growth.”
– Sidney Sczygelski, Chief Financial Officer
Bond financing facilitated by WHEFA will be used to help Aspirus Wausau Hospital in Wausau, Wisconsin, finance the construction, renovation, equipping and expansion of its intensive care units, palliative care nursing unit, emergency department, cancer center and cafeteria. Proceeds of the bond financing will also help Aspirus Riverview Hospital & Clinics, Inc. in Wisconsin Rapids, Wisconsin, finance the construction, renovation, equipping and expansion of its family birth place, emergency department and cardiovascular institute service areas, as well as construction, renovation, equipping and expansion on behalf of certain hospital affiliates located in Michigan. This federally tax-exempt financing process has enabled Aspirus, Inc. to operate more effectively by financing its capital expenses at lower interest rates (3.625-5.00%).
WHEFA is proud to have been able to assist Aspirus, Inc., reduce their overall debt service by providing access to low-cost private capital.