ByteDance Seeks Record $9.5 Billion Loan for Expansion

TikTok owner ByteDance is securing a $9.5 billion loan, the largest dollar-denominated corporate facility in Asia excluding Japan. Coordinated by Citigroup, Goldman Sachs, and JPMorgan, the loan has a three-year tenor, extendable to five years, and will partly refinance an existing $5 billion dual-tranche facility.

TikTok owner ByteDance is securing a record-breaking $9.5 billion loan, marking the largest dollar-denominated corporate facility in Asia, excluding Japan. Two sources with knowledge of the deal disclosed the details on Monday.

Citigroup, Goldman Sachs, and JPMorgan are spearheading the financing effort. The loan features a three-year tenor that can be extended up to five years, according to the confidential sources.

Bloomberg News reported that a portion of the loan will be allocated to refinancing an existing $5 billion dual-tranche facility.

(With inputs from agencies.)