September 14, 2017
$61,785,000
WHEFA Bond Financing Helps American Baptist Homes of the Midwest Refinance in Muskego
Bonds Underwritten by HJ Sims & Co., Inc.
“On any given day Tudor Oaks provides housing, services and long-term care for approximately 230 older adults. Tax-exempt financing enables us to provide high quality and cost-effective care for those individuals regardless of their financial circumstances.”
— David Zwickey,
CEO/President
American Baptist Homes of the Midwest
American Baptist Homes of the Midwest employs approximately 152 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help American Baptist Homes of the Midwest refinance certain outstanding debt previously issued in 2007 and 2009. The net present value savings following the refinancing was approximately $6.5 million. This federally tax-exempt financing process has enabled American Baptist Homes of the Midwest to operate more effectively by refinancing its capital expenses at lower interest rates (3.50-5.00%).
WHEFA is proud to have been able to assist American Baptist Homes of the Midwest reduce their overall debt service by providing access to low-cost private capital.
