WHEFA bond financing helps Wheaton Franciscan Services, Inc. refinance in Milwaukee, Wauwatosa, Brown Deer, Brookfield and Racine
“The ability to access tax-exempt financing is vital to our operations. WHEFA is a great partner that helps simplify the financing process, we truly appreciate all their work.”
– Jon Sohn, Senior Vice President & Chief Financial Officer Wheaton Franciscan Services, Inc.
Wheaton Franciscan employs approximately 8,695 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA was used to help Wheaton Franciscan Services refinance bonds previously issued by WHEFA in 2003 and 2007. This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (initially 0.83%).
Wheaton Franciscan, a nonprofit health care system located in Wheaton, Illinois, is the parent organization for health care and shelter service organizations located in Wisconsin, Illinois, Iowa and Colorado (collectively the “System”). Today, the System is comprised of over 100 sites, including 14 hospitals, three long-term care facilities; two home health agencies; numerous physician clinics; and 2,620 units of assisted living and other housing for fixed-income elderly and low income families. Wheaton Franciscan also owns several physician groups including Wheaton Franciscan Medical Group.
WHEFA is proud to have been able to assist Wheaton Franciscan 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 $21 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.
