February 24, 2022
$17,630,000
WHEFA Bond Financing Helps Spooner Health System, Inc. Refinance in Spooner
Bonds Placed with Citizens Bank, National Association
“Allowing us to refinance the hospital with tax-exempt rates will help Spooner Health adequately serve our community and meet their growing healthcare needs well into the future. During these unsure times with the pandemic, it is even more important for us to minimize our interest expense so we can use the funds we have towards patient care and community healthcare needs. Lowering our interest payments will help to ensure that we will be in this community providing healthcare services for years to come. It will also allow us to grow on our campus to add services as needed that will help the continuum of care.”
– Rebecca Busch, Chief Financial Officer
Spooner Health System, Inc.
Spooner Health System employs 126 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA was used to help Spooner Health System refinance bonds previously issued by WHEFA in 2014. This tax-exempt financing process has enabled Spooner Health System to operate more effectively by refinancing 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 or refinance their capital improvement and expansion needs.
