August 30, 2018
Series A $33,570,000
Series B-D $21,296,000
WHEFA Bond Financing Helps
Wisconsin Illinois Senior Housing, Inc
Refinance and Renovate
Series 2018A Bonds Underwritten by B.C. Zielger & Co. and Herbert J. Sims & Co., Inc.
Series 2018B-D Bonds Placed with Compass Bank & Compass Mortage Corporation
“In an era of significant challenges for Senior Care providers, having in excess of $1M a year in debt service savings provides critical resources to help insure that the seniors under our care receive the best we are capable of giving.”
– Robert Siebel, President
Carriage Healthcare Companies, Inc. as Managers for
Wisconsin Illinois Senior Housing, Inc.
Bond financing facilitated by WHEFA was used to help Wisconsin Illinois Senior Housing, Inc. (“WISH”) refinance bonds previously issued by WHEFA in 2007, 2010, 2012, 2013 and 2014. Bond proceeds will also be used for renovations to certain healthcare and senior living facilities located in Fort Atkinson, Hartford, Stevens Point, Wausau, and Wisconsin Rapids, Wisconsin, including enhancements and upgrades, as well as some structural improvements. This federally tax-exempt and taxable financing process has enabled WISH to operate more effectively by refinancing and financing its capital expenses at lower interest rates (initially 4.94-5.42%).
WHEFA is proud to have been able to assist WISH reduce their overall debt service by providing access to low-cost private capital.