$125,670,000 WHEFA bond financing to help ThedaCare, Inc. construct and refinance in Shawano, Appleton and Neenah
Wisconsin Health & Educational Facilities Authority
NEWS ADVISORY
$125,670,000 WHEFA bond financing to help ThedaCare, Inc. construct and refinance in Shawano, Appleton and Neenah
“Implementing wonderful ideas and technologies that better serve the healthcare customer consumes critical resources. The financial process with WHEFA was efficiently managed and delivered a product that can serve our organization and the communities we serve for many years to come. We feel fortunate to have such a partner here in Wisconsin.”
– Keith Taubel, Controller ThedaCare, Inc.
The projects will create 18 permanent jobs with an annual payroll of $1,300,000, as well as 194 construction jobs.
ThedaCare employs 4,893 full-time equivalents.
Bond financing facilitated by WHEFA will help ThedaCare finance the acquisition, construction and equipping of a 127,555 square foot replacement hospital in Shawano, Wisconsin; the construction and equipping of a new 80,000 square foot cancer center facility in Appleton, Wisconsin; the acquisition, construction and equipping of a replacement clinic facility in Neenah, Wisconsin; and the construction and remodeling of a hybrid operating room suite in Appleton, Wisconsin. Bond proceeds were also used to refinance bonds previously issued by WHEFA in 2005. The net present value savings following the refunding is approximately $4.7 million. This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at lower interest rates (3.00-5.00%).
ThedaCare is a community health system consisting of seven hospitals, numerous clinics and related services including home care and senior living. The hospitals in the system include Appleton Medical Center, in Appleton, Wisconsin; Theda Clark Medical Center, in Neenah, Wisconsin; New London Family Medical Center in New London, Wisconsin; Shawano Medical Center in Shawano, Wisconsin; Riverside Medical Center in Waupaca, Wisconsin; Community Health Network in Berlin, Wisconsin; and Wild Rose Community Memorial Hospital in Wild Rose, Wisconsin.
WHEFA is proud to have been able to assist ThedaCare by reducing their overall debt service and allowing them to grow and compete by providing access to low cost 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
