ByteDance Seeks Massive $9.5 Billion Loan

ByteDance, owner of TikTok, is seeking a $9.5 billion loan, which would be the largest dollar-denominated corporate facility in Asia excluding Japan. Citigroup, Goldman Sachs, and JPMorgan are coordinating the financing, which has a tenor of three years and can be extended up to five years.

ByteDance, the parent company of popular social media platform TikTok, is in talks with banks for a substantial $9.5 billion loan, Bloomberg News reported on Monday. This would mark the largest dollar-denominated corporate facility in Asia, excluding Japan.

Citigroup, Goldman Sachs, and JPMorgan are reportedly the coordinators of this financing effort. The proposed loan has a tenor of three years, with the option to extend it to up to five years, according to sources familiar with the matter.

The move illustrates ByteDance's expansive financial strategies and its intentions to continue growing its businesses across multiple sectors.

(With inputs from agencies.)