Offering to fund Maternity/NICU project, Ashwaubenon clinic expansion, I.T. needs
Friends of Bellin Health and the broader community are invited to participate in a financial investment opportunity. On Thursday, Aug. 15, Bellin Health will be offering $43 million of Wisconsin double tax-exempt bonds to the public. Pricing for the bonds will occur the same day.
Proceeds from the sale will be used to finance Bellin’s Maternity Department expansion and Neonatal Intensive Care Unit (NICU) project, which will bring a state-of-the-art, unique-to-our-region NICU to Bellin; as well as funding Ashwaubenon campus upgrades and Information Technology platform expansion. This opportunity is unique, in that it is a chance to support Green Bay’s only locally owned hospital and health system – a health system with strong ratings from Moody’s and Standard & Poor’s.
“Community involvement and support have enabled more than 100 years of stability and sustainability at Bellin Health,” said health system President & CEO Chris Woleske. “We understand the value of community involvement and support, and we are pleased to offer this investment opportunity to the public.”
Individuals who are interested in purchasing a bond are advised to call their broker or make other arrangements well in advance of the Aug. 15 pricing and sale date. Charles Schwab and R.W. Baird are assisting Bellin with the sale. In addition, anyone may call Piper Jaffray’s toll-free number, (800) 552-0614, to place an order after they have opened a holding account. Once the bonds settle, Piper Jaffray will transfer the holdings to their brokerage account.
Bellin Health maintains strong bond ratings from the Standard & Poor’s (S&P) and Moody’s agencies. S&P recently announced that it is maintaining Bellin’s A+ rating and issuing an outlook of stable, citing the health system’s positive results so far this year, among other factors. Moody’s recently affirmed its A2 rating, also issuing a stable outlook.
Bonds will be offered subject to availability. Municipal bonds are not suitable for all investors, especially those in a lower tax bracket. Bonds are subject to market fluctuation and interest rate risks and may be worth more or less than the original cost if sold prior to maturity. Prospective investors should contact their brokers as soon as possible to discuss the feasibility of and make plans for a potential purchase.