$35,000,000 Series A, $13,000,000 Series B WHEFA bond financing helps Tomah Memorial Hospital, Inc. construct a replacement hospital in Tomah
Bonds Underwritten by Piper Jaffray & Co. (Series A) and Placed with Associated Bank (Series B)
“The Hospital is very grateful for WHEFA’s involvement in completing the financing for our new facility. The favorable terms of our tax-exempt financing will allow for greater flexibility in managing the project budget and help us ensure that we can continue to meet the healthcare needs of the community for decades to come.”
— Joseph Zeps, Chief Financial Officer, Tomah Memorial Hospital, Inc.
This project will create 35 permanent jobs with an annual payroll of $1.47 million, as well as 500 construction jobs. 370 total jobs will be retained with an annual payroll of over $21.2 million.
Tomah Memorial Hospital, Inc., employs approximately 297 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Tomah Memorial Hospital, Inc., finance the acquisition, construction and equipping of an approximately 148,000 square-foot 25-bed replacement hospital facility to be located on a new 42-acre site located in Tomah, Wisconsin. This federally tax-exempt financing process has enabled Tomah Memorial Hospital, Inc., to operate more effectively by financing its capital expenses at lower interest rates. Tomah Memorial Hospital, Inc. has received a Letter of Conditions (a commitment) for a loan from the United States Department of Agriculture – Rural Development (USDA) to refinance the Series A Bonds upon completion of construction of the project.
WHEFA is proud to have been able to assist Tomah Memorial Hospital, 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
