September 25, 2015
WHEFA Bond Financing Helps Ripon College, Inc. Refinance in Ripon
“Higher education must continue to find ways to operate more efficiently and with WHEFA’s assistance, Ripon College was able to significantly lower its annual financing costs by refinancing its tax-exempt debt. These savings will allow the College to invest additional resources to further enhance the quality of the Ripon experience. Dennis, Tatiana, and the WHEFA staff provided a wealth of information and advice from the very beginning of the process to the successful completion of the refinancing.”
– Thomas Ponto, Vice President for Finance
Bond financing facilitated by WHEFA was used to help Ripon College refinance bonds previously issued by WHEFA in 2006. This federally tax-exempt financing process has enabled the borrower to operate more effectively by refinancing its capital expenses at lower interest rates (initially 1.85%-3.36%).
Ripon College operates an independent, privately endowed liberal arts college on a 250 acre campus in Ripon, Wisconsin. Ripon College, a member of the Associated Colleges of the Midwest, has been providing a quality liberal arts education to students since 1851. The College’s residential campus enrolled 829 full-time equivalent undergraduate students for the fall of 2014-2015, representing almost every state and several foreign countries.
WHEFA is proud to have been able to assist Ripon College by reducing their overall debt service and allowing them to grow and compete by providing access to low-cost private capital.