Syntrio Secures $60 Million in Debt Financing to Propel Fiber Network Expansion
Vernon, TX – Syntrio Solutions, LLC (Syntrio), a premier provider of fiber-to-the-home internet services, is thrilled to share that it has successfully secured a senior debt facility, enabling Syntrio further to accelerate the expansion of our rapidly growing network.
Surpassing the initial $50 million fundraising goal, strong interest from potential lenders led to oversubscription, increasing the senior credit facility to $60 million led by Third Coast Bank as Agent and Bank Street Group, LLC serving as exclusive financial advisor to Syntrio in connection with the transaction. James McDonough, Alicia Vesely and Gigi Girling of Jackson Walker LLP served as legal counsel to Syntrio on the transaction.
These allocated funds will be pivotal in advancing Syntrio’s fiber deployment, bringing exceptional high-speed internet access and advanced technology services to underserved communities and new markets across North Texas and Southern Oklahoma.
Kirk Petty, CEO of Syntrio, conveyed his appreciation for the deal, remarking, “We are grateful for Third Coast Bank’s trust in our vision. This funding will empower us to implement our plans and create a tangible impact on individuals and businesses. We look forward to a successful collaboration and the positive impact it will bring.”
The partnership marks a significant milestone for both Third Coast and Syntrio, as they aim to bridge the digital divide in communities that have long been overlooked by major service providers.
“We are thrilled to support Syntrio in their mission to deliver fast and reliable internet services to rural areas,” said Elizabeth Falco, Executive Vice President of Corporate Banking at Third Coast Bank. “This investment not only aligns with our commitment to community development but also spurs economic growth and opportunities for the businesses and residents in the surrounding areas by bringing them essential services reliant on high-speed internet,” Falco concluded.
Syntrio is dedicated to broadening our reach, bringing faster, more affordable, and reliable internet to underserved communities. As the demand for superior connectivity grows, Syntrio is committed to surpassing expectations through exceptional customer service and cutting-edge technology.
About Syntrio
Syntrio is part of the fabric of North Texas and Southern Oklahoma communities, connecting businesses and households to the rest of the world. At Syntrio, we act as a pillar in the communities we serve, providing dependable internet services that empower residents and businesses. Our mission remains to break down technological barriers and offer our customers the support and service they deserve. For more information, please visit https://syntrio.net.
About Third Coast Bank
Third Coast Bancshares, Inc. (NASDAQ: TCBX) is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank. Founded in 2008 in Humble, Texas, Third Coast Bank conducts banking operations through 19 branches encompassing the four largest metropolitan areas in Texas. Please https://www.thirdcoast.bank for more information.
Contact:
Ashley Littleton
Marketing Supervisor, Syntrio (940) 414-2175
alittleton@syntrio.net