May 11, 2016
WHEFA Bond Financing Helps The Medical College of Wisconsin, Inc. Expand and Refinance in Milwaukee
“The ability to issue tax-exempt debt through WHEFA is important to MCW. This issuance allows MCW to expand our academic facilities and further our missions, while reducing the overall cost of capital. It is always a pleasure working with the WHEFA team and I appreciate the support and expertise they provided for this financing.”
– Pamela J. Stanick, Controller
Medical College of Wisconsin, Inc.
Bond financing facilitated by WHEFA will be used to help The Medical College of Wisconsin finance the construction and equipping of an approximately 240,000 square foot professional office building, the renovation and equipping of the existing facilities to integrate the office building and to accommodate the operations of a new school of pharmacy, and other renovation, remodeling and equipping of existing facilities for educational, health and research programs. Proceeds were also used to refinance bonds previously issued by WHEFA in 2008. The net present value savings following the refinancing was approximately $8.8 million. This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (2.00-5.00%).
WHEFA is proud to have been able to assist The Medical College of Wisconsin by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.