$76,660,000 in WHEFA Bond Financing Helps Aspirus Refinance in Wisconsin Rapids

Bond financing facilitated by WHEFA was used to help Aspirus refinance bonds previously issued by WHEFA in 2008 and 2010 on behalf of Aspirus Riverview Hospital located in Wisconsin Rapids.  Bond proceeds will also help Aspirus acquire, construct, renovate and equip and refinance certain projects on behalf of certain hospital affiliates located in Michigan.  The net present value savings following the refinancing is approximately $3.3 million.  This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at lower interest rates (2.00-5.00%).

Aspirus is a regional provider of health care services and its operations include eight acute care hospitals (four in Wisconsin; four in Michigan) with an aggregate 431 available beds, primary and specialty physician care (including occupational medicine) in more than 30 communities and 11 facilities offering long-term care and senior living with 195 skilled nursing beds, 82 assisted living units, 10 community-based residential units, 40 independent living units and eight adult family home units.

WHEFA is proud to have been able to assist Aspirus by reducing their overall debt service and allowing them to grow and compete by providing access to low cost capital.