CIT Northbridge Credit, as advised by CIT Asset Management, served as agent on a $27.78 million credit facility for Applied Optoelectronics, a provider of fiber-optic networking products.
Founded in 1997 and headquartered in Sugar Land, TX, Applied Optoelectronics (AOI) is a provider of fiber-optic access network products for the internet data center, cable broadband, fiber-to-the-home and telecommunications markets.
“The end-markets we serve are driven by bandwidth demand fueled by the growth of network-connected devices, video traffic, cloud computing and online social networking,” Stefan Murry, CFO of AOI, said. “The financing provided by CIT Northbridge Credit supports our continued focus on meeting the increased bandwidth demand through fiber-optic networking technology, which we believe has become essential in all of our key markets.”
“AOI has a long history of relationships with reputable, credit-worthy customers across the end-markets it serves,” Neal Legan, leader of CIT Northbridge Credit, said. “We are pleased to have worked closely with AOI to provide a financing package that supports their business strategy and future customer expansion.”
