September 14, 2016
WHEFA Bond Financing Helps Beloit College Refinance in Beloit
“Access to federally tax-exempt financing makes the College’s dollars go farther in building and remodeling our educational facilities. And the ability to refinance to realize further savings as markets change continues to enhance our capacity to provide opportunities for students in our unique Liberal Arts in Practice approach to synthesizing classroom knowledge with experience beyond the classroom walls.”
– Helen Ouellette,
Interim Vice President for Finance & Planning/Treasurer
Bond financing facilitated by WHEFA was used to help Beloit College refinance bonds previously issued by WHEFA in 2010. The net present value savings following the refinancing was approximately $2.9 million. This federally tax-exempt financing process has enabled Beloit College 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 Beloit College by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.