December 14, 2017
WHEFA Bond Financing Helps Children’s Hospital of Wisconsin, Inc. Construct, Renovate and Refinance in Wauwatosa
Bonds Underwritten by J.P. Morgan
“Children’s Hospital of Wisconsin relies on tax-exempt financing to access capital for mission-critical projects. Without this low-cost debt, we would be unable to continue to provide the best and safest care to the children and families we serve.”
– Marc Cadieux, Chief Financial Officer
Children’s Hospital of Wisconsin, Inc.
Bond financing facilitated by WHEFA will be used to help Children’s Hospital of Wisconsin, Inc. finance the construction and equipping of an addition to its existing hospital facility for expansion and renovation of surgical suites, the ambulatory clinic and the emergency department. Bond proceeds were also used to refinance bonds previously issued by WHEFA in 2008. The net present value savings following the refinancing was approximately $15.1 million. This federally tax-exempt financing process has enabled Children’s Hospital of Wisconsin, Inc. to operate more effectively by financing and refinancing its capital expenses at lower interest rates (3.25-5.00%).
WHEFA is proud to have been able to assist Children’s Hospital of Wisconsin, Inc. reduce their overall debt service by providing access to low-cost private capital.