CIT’s technology, media and telecommunications business expanded an existing credit facility to $400 million for Mobilitie Investments III, which is a telecommunications infrastructure provider.
Mobilitie owns and operates a nationwide portfolio of wireless communications infrastructure, including communication towers and distributed antenna systems across outdoor and indoor public venues.
CIT has supported Mobilitie’s growth through multiple rounds of financing over the past several years. The latest round of financing will provide additional growth capital, as Mobilitie continues to experience demand for its telecommunications infrastructure services amid increased reliance on mobile connectivity and wireless communications.
“We were pleased to again turn to Roger Fong and the rest of the CIT team to help Mobilitie meet our financing needs as we continue to expand our infrastructure assets to support the growing demands of mobile telecommunications,” Christos Karmis, president and CEO of Mobilitie, said. “Our pipeline of active projects is more robust than ever before as we continue to densify our footprint across the U.S. and upgrade sites to support the latest 5G deployments with 5G NR and high-band mmWave, in addition to CBRS.”
“We have supported Mobilitie’s ongoing growth for many years and are pleased to do so again with this credit facility expansion,” Thomas Westdyk, managing director and group head for CIT’s technology, media and telecommunications business, said. “The company’s continuing progress is a demonstration of the value that its solutions and expertise provide at a time when wireless networks are critical to so many clients and consumers.”
