$62,700,000 WHEFA bond financing helps Aspirus, Inc. construct and expand in Wausau and Wisconsin Rapids
Another successful private activity bond financing
Bonds Underwritten by Barclays Capital & Piper Jaffray & Co.
“Aspirus continues to be a fast-growing Wisconsin based health system with total revenue growth of $301 million or 40.2% over the last three years. The availability of tax exempt financing, and the assistance of the WHEFA staff in securing that financing, has been critical to the construction and renovation of our facilities required to accommodate that growth.”
– Sidney Sczygelski, Chief Financial Officer, Aspirus, Inc.
These projects will create 48 permanent jobs with an annual payroll of $4,340,000, as well as 400 construction jobs. 43 total jobs will be retained with an annual payroll of over $3 million.
Aspirus, Inc., employs approximately 5,000 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Aspirus Wausau Hospital in Wausau, Wisconsin, finance the construction, renovation, equipping and expansion of its intensive care units, palliative care nursing unit, emergency department, cancer center and cafeteria. Proceeds of the bond financing will also help Aspirus Riverview Hospital & Clinics, Inc. in Wisconsin Rapids, Wisconsin, finance the construction, renovation, equipping and expansion of its family birth place, emergency department and cardiovascular institute service areas, as well as construction, renovation, equipping and expansion on behalf of certain hospital affiliates located in Michigan. This federally tax-exempt financing process has enabled Aspirus, Inc. to operate more effectively by financing its capital expenses at lower interest rates (3.625-5.00%).
WHEFA is proud to have been able to assist Aspirus, Inc., reduce their overall debt service by providing access to low-cost private capital.
For more information visit our website at www.whefa.com or please contact:
Dennis P. Reilly | Executive Director | p: 262.792.0466 | e: info@whefa.com
About WHEFA
WHEFA fulfills its mission of assisting all eligible Wisconsin non-profit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance capital improvement and expansion needs. Since inception, WHEFA has provided 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
