$6,556,441 WHEFA bond financing helps Reedsburg Area Medical Center, Inc. refinance
“Working with WHEFA for this tax-exempt refinancing has been very beneficial to Reedsburg Area Medical Center. We were able to save over $1 million dollars. Those savings are very important for our small and independent hospital in a time when fiscal resources are extremely constricted. As we look to the future, we look forward to working again with WHEFA for tax-exempt financing projects.”
– Robert Van Meeteren, President, Reedsburg Area Medical Center, Inc.
Reedsburg Area Medical Center employs approximately 400 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA was used to help Reedsburg Area Medical Center refinance bonds previously issued by WHEFA in 2006. This federally tax-exempt financing process has enabled the borrower to operate more effectively by refinancing its capital expenses at a lower interest rate (1.86%). The net present value savings following the refunding is approximately $1.17 million.
Reedsburg Area Medical Center owns and operates a critical access hospital located in Reedsburg, Wisconsin which provides primary and acute care services on both an inpatient and outpatient basis with 25 acute care beds and 17 day care surgery beds. Reedsburg Area Senior Life Center, Inc., a separate nonprofit Section 501(c)(3) organization, operates a 50-bed skilled nursing facility and a 24-bed residential care apartment complex on the hospital campus..
WHEFA is proud to have been able to assist Reedsburg Area Medical Center 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 36 years, WHEFA has been quietly fulfilling its mission of assisting Wisconsin’s non-profit institutions to obtain access to low-cost capital in order to finance or refinance their building and equipment improvements and expansion needs. During this time, WHEFA has issued over $22 billion of federally tax-exempt bonds to provide several hundred Wisconsin non-profit 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
