May 31, 2019
WHEFA Bond Financing Helps Divine Savior Healthcare, Inc. Refinance in Portage
Bonds Placed with US Bank National Association
“Another successful financing through WHEFA provided low cost tax-exempt funds that we used as a necessary tool for our debt financing management. Divine Savior Healthcare needs access to the low-cost tax-exempt financing to continue its mission of providing healthcare services to its surrounding communities. WHEFA provides an efficient way to finance projects with tax-exempt bonds and as with our previous issues, we truly appreciate the expertise and professionalism of the WHEFA staff”
— Pete Nelson, VP of Finance
Divine Savior Healthcare, Inc.
Bond financing facilitated by WHEFA will be used to help Black River Memorial Hospital, Inc. (the “Hospital”) finance costs associated with the construction and renovation at the Hospital including an urgent care and specialty clinic, an addition to rehabilitation, surgical and physician facilities, the remodeling and renovation of several Hospital departments, as well as additional renovations and improvements. Bond proceeds were also used to refinance certain outstanding debt previously issued in 2005. This federally tax-exempt financing process has enabled the Hospital to operate more effectively by financing and refinancing its capital expenses at a low interest rate (initially 3.38%).
WHEFA is proud to continue its mission of assisting all eligible Wisconsin non-profit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.