July 14, 2022
$59,420,000
WHEFA Bond Financing Helps Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group Improve and Refinance in Wauwatosa
Bonds Underwritten by Piper Sandler & Co.
“Tax-exempt financing issued by WHEFA for the Obligated Group, as the owner & provider of many essential utility services and infrastructure for the Milwaukee Regional Medical Center, enables the renewal and expansion of the member’s critical services and assists them in accomplishing their missions.
Long term, low-cost financing allows these vital, but privately-owned, services to be delivered efficiently and cost effectively, while allowing the healthcare institutions to dedicate more resources to the delivery of leading edge academic medical center services to all in need.”
– Bob Mlynarek, Vice President of Finance
Milwaukee Regional Medical Center
These projects will create an estimated 300 construction jobs.
Bond financing facilitated by WHEFA will be used to help Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group (MRMC) finance costs associated with certain future capital expenditures for improvements to its steam and chilled water system and future development of an 80-acre site on its campus. Proceeds of the bond financing were also used to refinance an interim taxable loan used for the acquisition of and improvements to certain water assets, and roadwork and utility improvements on the MRMC campus. This tax-exempt financing process has enabled MRMC to operate more effectively by financing its capital expenses at a low interest rate.
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 their capital improvement and expansion needs.
