Wisconsin Health & Educational Facilities Authority
NEWS ADVISORY
$32,380,000 WHEFA bond financing to help the Medical College of Wisconsin, Inc. refinance in Milwaukee
“WHEFA is an important business partner for MCW and other higher education entities in Wisconsin. The access to tax-exempt debt allows MCW to reduce its cost of capital and enhance its academic facilities. The WHEFA team is knowledgeable and they were supportive throughout the refinancing process. “
– Pamela J. Stanick, Controller Medical College of Wisconsin, Inc.
The Medical College of Wisconsin employs approximately 5,000 full-time equivalents.
Bond financing facilitated by WHEFA was used to help The Medical College of Wisconsin refinance bonds previously issued by WHEFA in 2004 and 2010. The net present value savings following the refunding is approximately $4.5 million. This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at lower interest rates (2.10 – 2.36%).
The Medical College of Wisconsin is a private, freestanding medical college which offers medical and graduate degrees and maintains multi-specialty clinical programs in which faculty physicians provide medical care. The Medical College of Wisconsin also performs research in numerous basic and clinical sciences. The Medical College of Wisconsin has a current enrollment of 1,208 students. The campus is located on approximately 33 acres on the Milwaukee Regional Medical Center campus in Milwaukee.
WHEFA is proud to have been able to assist The Medical College of Wisconsin by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.
For more information visit our website at www.whefa.com or please contact:
Dennis Reilly | Executive Director
p: 262.792.0466 | e: info@whefa.com
About WHEFA
For over 35 years WHEFA has been quietly fulfilling its mission of assisting Wisconsin’s nonprofit institutions to obtain access to low-cost capital in order to finance their building and equipment improvement and expansion needs. During this time, WHEFA has issued over $20 billion of federally tax-exempt bonds to provide several hundred Wisconsin nonprofit corporations access to private and public capital markets at lower costs than are available to them in the conventional marketplace.
Pursuant to Section 231.10 of the Wisconsin Statutes, bonds issued by WHEFA are not considered indebtedness of the State of Wisconsin, and the State has no obligation to repay any bonds issued by WHEFA under any circumstances. Additionally, WHEFA does not utilize any State moneys to fund its operations.
www.whefa.com |18000 West Sarah Lane, Suite 300, Brookfield, WI 53045 | 262.792.0466