Retail colocation data center provider Equinix has arranged to receive a $170 million loan from a group of banks to fund expansion in the Asia Pacific region. The agreement was made through the company's Asia Pacific subsidiaries with DBS Bank, ING Bank, the Royal Bank of Scotland and GE Commercial Finance.

Equinix said in a press release it will use the proceeds to fund development plans in the region, which includes refinancing of about $81 million in existing debt. The rest will go to capital expenditures and general corporate purposes.

Most recent Equinix expansions in the region included opening of additional facilities in Singapore and Sydney and expansion of an existing Hong Kong data center in 2009. Earlier this week, the provider announced a major expansion in Europe, opening its second data center in Geneva, which doubled its capacity in the Switzerland city.

The company operates 49 data centers in North America, Europe and Asia-Pacific countries.