CIT Group recently announced that its Technology, Media and Telecommunications unit has arranged $325 million round of financing for Mobilitie, the largest privately-held telecommunications infrastructure company in the United States.
This is the third financing round that CIT has led in recent years on behalf of Mobilitie, which owns and operates a national portfolio of wireless communications infrastructure, including towers, distributed antenna systems and wi-fi networks. Proceeds will refinance existing debt and provide growth capital for its ongoing 5G network deployments and upgrades.
CIT's Technology, Media and Telecommunications group supports the development, expansion, equipment, and strategic acquisition needs of clients in the telecommunications, technology, media and information services industries.
Christos Karmis, President and CEO, Mobilitie
CIT has worked with us for years as we've expanded our infrastructure to support a wide range of telecommunications needs, working closely with large public venues, real estate owners, large enterprises, and wireless carriers to ensure their customers are better connected.
Thomas Westdyk, Managing Director and Group Head, CIT's Technology, Media and Telecommunications Business
CIT is pleased to lead another round of financing to support Mobilitie's ongoing operations and development, particularly in this time when wireless networks are so critical.
