Cision PR Newswire

RITTER COMMUNICATIONS SECURES UPSIZED $590 MILLION FOR CONTINUED NETWORK EXPANSION

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Nov 13, 2024, 2:36 PM ET

JONESBORO, Ark., Nov. 13, 2024 /PRNewswire/ -- Ritter Communications, a premier bandwidth infrastructure platform serving Arkansas, Texas, Missouri, Tennessee and Kentucky, announced today it has closed on an upsized $590 million debt refinance. Fifth Third Bank acted as left lead arranger and administrative agent on the transaction.

Ritter Communications, a portfolio company of Grain Management, has rapidly expanded RightFiber, the company's 100% fiber broadband service, since 2021. RightFiber delivers multi-gig speeds and future proof connectivity, transforming the digital landscape of its communities.

"The additional funding positions Ritter Communications to continue our remarkable growth trajectory for the next several years," said Ritter Communications CEO Heath Simpson. "This strategic investment supports our recently announced expansions into Fort Smith and Texarkana, Arkansas, Texarkana, Texas and Paducah, Kentucky with additional fiber network expansions coming very soon."

Ritter Communications is the largest privately held telecommunications provider serving exclusively the Mid-South, offering world-class broadband fiber, telecom, video, cloud, and data center services. The company has grown rapidly over the years, investing millions recently in technology infrastructure and is now serving 155 communities and more than 57,000 customers in Arkansas, Texas, Missouri, Tennessee and Kentucky. Headquartered in Jonesboro, Arkansas, Ritter Communications invests heavily in the communities it serves by deploying proven, best-in-class infrastructure and technology, while coupling it with a world-class customer-focused experience. For more information visit RitterCommunications.com, RitterBusiness.com or RightFiber.com.

Founded in 2007, Grain Management is a leading, global investment firm. We believe broadband and digital infrastructure are foundational to the tech-enabled transformation occurring across all industries and facets of society. Our global team of seasoned and diverse professionals share a collective passion for the power of connectivity to strengthen communities and unlock human potential for all.

We specialize in digital infrastructure and are a trusted solutions provider to the broadband and communications industry. Our unique combination of sector knowledge, experience as operators, and disciplined analytical approach guide our differentiated investment strategy across fiber networks, data centers, wireless spectrum, cell towers, as well as managed and infrastructure services.

Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com .