DayOne Data Centers is seeking a HK$1.86 billion ($237 million) loan from a consortium of Asian banks, according to people familiar with the matter. The Singapore-headquartered data center operator is in talks for a five-year facility as part of a recent borrowing spree ahead of a planned US initial public offering.

The potential lenders include DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd., said the people, who asked not to be identified discussing private matters. The financing would support the company's expansion in Hong Kong.

The loan talks come as DayOne prepares for a US listing, adding to its recent capital-raising efforts. The company operates data centers across Asia and has been aggressively expanding its footprint to meet growing demand for cloud infrastructure.