.
The Lessors Network
Access To The Equipment Finance Markets
.
Lessors Network Shadow
Industry Directories
Lessors Network Shadow
Industry Events
Lessors Network Shadow
Publisher's Network
Lessors Network Shadow
Lessors Network Logo
LinkedIn
Over 1,682 Global Members
.
Lessors Network Ad
Optimal Leasing LLC
Lessors Network Shadow
Optimal Leasing LLC

Optimal Leasing LLC , an independent MBE originally founded in 1996 with a specific emphasis on providing lease financing for capital equipment, assist customers who have diversity objectives and are interested in Tier 1 & 2 spend.

Larry Robinson - 248.738.2699


Breaking News Network
Lessors Network Shadow
Submit Your...  Arrow Press Releases  Arrow Featured Articles  Arrow Employment Alert(s)
Lessors Network News

The Lessors Network keeps the largest equipment lease finance community on the Web informed of news and events shaping our fast paced industry by aggregating industry relevant news, press releases, legislative and regulatory updates from thousands of trusted sources around the world.

Submit Press Release
.
Posted July 13, 2017
Lessors Network Shadow
.

CIT Provides $20 Million Financing to CTI Towers

.

The delayed-draw term loan will be used to grow CTI Tower's portfolio

NEW YORK, July 13, 2017 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT), a leading provider of commercial lending and leasing services, today announced that CIT Communications & Technology Finance provided a $20 million delayed-draw term loan (DDTL) to CTI Towers, a wireless tower company. CTI Towers owns 208 towers and manages the Comcast Cable portfolio of 435 towers. The term loan will be used to grow the company's portfolio via acquisitions, construction of new wireless towers and other wireless infrastructures as well as for working capital.

"We've been watching CTI Tower's performance since inception and are confident about their continued growth potential," said Roger Fong, managing director, CIT Communications & Technology Finance. "With our experience in serving leading companies in the wireless infrastructure sector, we look forward to supporting this extraordinary team."

CTI Towers Chief Executive Officer Tony Peduto said, "We are extremely pleased with the terms of the debt arrangement, and this now positions us well for future growth as the wireless industry continues to grow. 5G, new spectrum deployments and the continued use of wireless devices for data and video will continue to burden the existing carrier networks. As the carriers look to add capacity everywhere, and bring better coverage to rural areas, towers will facilitate those deployments for the best coverage at the lowest cost.

"CIT has numerous investments in the wireless infrastructure space, and we are pleased to partner with such an experienced group," Peduto added.

About CIT

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with $63 billion in assets as of March 31, 2017. Its principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender), has more than $30 billion of deposits and more than $40 billion of assets. CIT provides financing, leasing, and advisory services principally to middle-market companies and small businesses across a wide variety of industries. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.

About CTI Towers

Based in Franklin, MA, CTI Towers was founded in 2011 to provide wireless carriers an opportunity to further continue network deployment without having to go through lengthy zoning processes to have towers constructed. The CTI Towers portfolio of existing towers allowed for immediate collocation and expanded wireless coverage and capacity. The company serves the national wireless carriers, regional carriers, utility companies, along with state and federal governmental agencies. For more, go to www.ctitowers.com .

.

  Free Headlines In Your Inbox

Email Alerts
Every day we send out free Email Alerts with the most important
headlines of the last 24 hours (excluding slow news days).
.
.
 Blue Arrow


.

A Lessors.com, Inc. Company     © Copyright 1998 - 2017
.