May 8, 2018
WHEFA Bond Financing Helps SSM Health Care of Wisconsin in Monroe
Bonds Underwritten by Co-Senior Managers Citigroup and Wells Fargo
“SSM has historically used tax exempt financing to complete the construction, renovation and expansion of its care delivery sites. Over the years SSM has issued over $300 million in tax exempt debt through the State of Wisconsin. The availability of this financing source has allowed SSM to create billions of dollars of economic activity while improving the health of the residents of Wisconsin.”
– Mike Malewicz, System Vice President –
Treasury & Chief Investment Officer
SSM Health Care Corporation
Bond financing facilitated by WHEFA was used to help SSM Health Care of Wisconsin acquire certain assets of The Monroe Clinic and subsequently defease a similar outstanding amount of bonds previously issued by WHEFA in 2016. This federally tax-exempt financing process has enabled SSM Health Care Corporation to operate more effectively by financing its capital expenses at a lower interest rate (initially 5.00%).
WHEFA is proud to have been able to assist SSM Health Care Corporation by providing access to low-cost private capital.