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FOND du LAC, WS-St. Agnes Hospital will develop the third phase of its extensive facilities renovation with the proceeds of a recently completed $35-million revenue bond financing. Minneapolis-based US Bancorp Piper Jaffray was the sole manager of the bond offering on behalf of Agnesian HealthCare Inc., which operates St. AgnesHospital, a 195-bed hospital.

The project consists of construction and equipping of a five-story patient care building, to be connected to the current facility. This building will contain replacement emergency room facilities, a replacement intensive care unit and a replacement behavioralhealth services unit.

In addition, the proceeds of the bonds will also be used to fund the costs of renovating Waupun Hospital, a 33-bed hospital in Waupun, WS, also operated by Agnesian Healthcare. The project is expected to be completed by April 2004.

US Bancorp Piper Jaffray is one of the largest municipal bond underwriter in the nation based on the number of long-term new issues, according to Thomson Financial Securities Data.

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