April 20 & 27, 2017
WHEFA Bond Financing Helps Froedtert Health, Inc. Expand in Wauwatosa and Refinance in Various Locations
Bonds Underwritten by Morgan Stanley & Co. and Placed with U.S. Bank National Association
“We greatly appreciate the opportunity to, once again, partner with the WHEFA team for the seamless execution of a public market bond issuance. Access to low-cost tax-exempt financing is a key component of an effective capital strategy that supports the delivery of quality health care services to our communities in a manner that provides value to our patients and their families.”
— Jeffrey R. Van De Kreeke,
Vice President, Corporate Finance & Treasury
Froedtert Health, Inc.
Bond financings facilitated by WHEFA will be used to help Froedtert Health, Inc. (“Froedtert”) finance the costs associated with the construction, renovation and equipping of a four-floor vertical expansion of the Center for Advanced Care building located on the Milwaukee Regional Medical Center Campus in Wauwatosa and other capital improvements and acquisitions of the Froedtert Health System at its various locations. Bond proceeds were also used to refinance bonds previously issued by WHEFA in 2009 and 2013. The net present value savings following the refinancings was approximately $10.4 million. This federally tax-exempt financing process has enabled Froedtert to operate more effectively by financing its capital expenses at lower interest rates.
WHEFA is proud to have been able to assist Froedtert reduce their overall debt service by providing access to low-cost private capital.