November 9, 2017
WHEFA Bond Financing Helps
Tomah Memorial Hospital, Inc. Construct a Replacement Hospital in Tomah
Bonds Underwritten by Piper Jaffray & Co. (Series A)
and Placed with Associated Bank (Series B)
“The Hospital is very grateful for WHEFA’s involvement in completing the financing for our new facility. The favorable terms of our tax-exempt financing will allow for greater flexibility in managing the project budget and help us ensure that we can continue to meet the healthcare needs of the community for decades to come.”
— Joseph Zeps, Chief Financial Officer
Tomah Memorial Hospital, Inc.
Bond financing facilitated by WHEFA will be used to help Tomah Memorial Hospital, Inc., finance the acquisition, construction and equipping of an approximately 148,000 square-foot 25-bed replacement hospital facility to be located on a new 42-acre site located in Tomah, Wisconsin. This federally tax-exempt financing process has enabled Tomah Memorial Hospital, Inc., to operate more effectively by financing its capital expenses at lower interest rates. Tomah Memorial Hospital, Inc. has received a Letter of Conditions (a commitment) for a loan from the United States Department of Agriculture – Rural Development (USDA) to refinance the Series A Bonds upon completion of construction of the project.
WHEFA is proud to have been able to assist Tomah Memorial Hospital, Inc., reduce their overall debt service by providing access to low-cost private capital.