Equinix garners funding for regional plans

By Enterprise Innovation Editors | Mar 19, 2010

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Global data center service provider Equinix, Inc. recently appointed three banks in the Asia Pacific region to arrange an approximate US$170 million multicurrency syndicated term loan facility for its subsidiaries in Australia, Hong Kong, Japan, and Singapore.

The loan agreement was signed on 10 March 2010 with proceeds to be used to support the company’s development plans for the Asia Pacific region, including the refinancing of approximately US$81 million of existing debt (original principal amount of approximately US$120 million), capital expenditures and general corporate purposes of the Borrowers. Following syndication efforts, additional lenders may join the Facility and the size of the Facility may be increased.

Equinix continues to experience strong growth within the Asia Pacific region. In 2009, Equinix Asia Pacific opened a second IBX data center in both Singapore and Sydney, as well as expanded its Hong Kong data center with the development of phase 4.