August 28, 2019
$35,000,000 Series A
$8,000,000 Series B
WHEFA Bond Financing Helps Bellin Memorial Hospital, Inc. Construct, Renovate and Upgrade in Green Bay
Bonds Underwritten by Piper Jaffray & Co.
“Bellin looks forward to bringing a first in the region model of high quality, family friendly neo-natal intensive care services. A significant portion of the proceeds from this financing will provide the community with a design focused on high quality and positive personal experience.”
– James Dietsche,
Chief Operating Officer and Chief Financial Officer,
Bellin Health Systems, Inc.
The project will create approximately 57 permanent jobs with an annual payroll of $5.1 million. Approximately 284 construction jobs will be created as well. 182 total jobs will be retained with an annual payroll of over $22.2 million. Bellin Health Systems employs approximately 3,146 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Bellin Memorial Hospital, Inc. (the “Hospital”) finance costs associated with capital projects at the Hospital and other health care facilities in Green Bay, Wisconsin. The project includes the renovation of cardiac catheterization lab suites, expansion of the Hospital’s oncology and infusion center and related pharmacy space, construction of a neo-natal intensive care unit, remodeling the Hospital’s maternity unit, relocating the Hospital’s kitchen and cafeteria and information technology upgrades including electronic medical records, timekeeping software and hardware, security modules, and hardware and software associated with disaster recovery, firewalls, and communication systems. This tax-exempt financing process has enabled the Hospital to operate more effectively by financing its capital expenses at low interest rates (2.50-5.00%).
WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.
