June 22, 2017
WHEFA Bond Financing Helps Carthage College Expand and Refinance in Kenosha
Bonds Placed with BMO Harris Bank N.A.
“As a private, nonprofit institution of higher education, we are in a nationally competitive environment. The partnership and support of WHEFA has enabled us to move forward with financing for an exciting new residential housing opportunity for our students, a project that will ensure we continue to thrive in southeastern Wisconsin.”
— Randy Barfield,
Vice President for Business Operations and
Chief Financial Officer,
Bond financing facilitated by WHEFA will be used to help Carthage College finance the acquisition, construction, renovation and equipping of a new approximately 52,000 square foot student residence hall that will connect existing residence halls on the Carthage campus. Proceeds of the bond financing were also used to refinance bonds previously issued by WHEFA in 2012 and 2013. This federally tax-exempt financing process has enabled Carthage College to operate more effectively by financing its capital expenses at lower interest rates (1.285-2.354%).
WHEFA is proud to have been able to assist Carthage College reduce their overall debt service by providing access to low-cost private capital.