ByteDance Eyes $9.5 Billion in Record Asia Dollar Corporate Loan
- Loan carries greenshoe option that allows size to increase
- Citigroup, Goldman Sachs, JPMorgan are the loan coordinators
ByteDance is looking to expand beyond its core business of online advertising into areas like e-commerce and generative AI.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
ByteDance Ltd., the Chinese owner of TikTok, is tapping banks for a $9.5 billion loan that would be the biggest dollar-denominated corporate facility in Asia ex-Japan, according to people familiar with the matter.
Citigroup, Goldman Sachs and JPMorgan are the coordinators of the latest financing, which carries a tenor of three years and can be extended to a maturity of up to five years, said the people, who asked not to be identified discussing a private matter.