NextFin News — ByteDance Ltd., the parent of TikTok, has secured a $29.6 billion loan, according to people familiar with the matter, making it Asia’s second-largest dollar-denominated borrowing this year after SoftBank’s roughly $40 billion facility.
The Chinese technology company originally sought a $20 billion facility but increased the size after strong commitments from banks, with total orders exceeding $30 billion. Proceeds are intended mainly for general corporate purposes. The three-year loan, which can be extended to five years, is being coordinated by Citigroup and JPMorgan Chase and remains subject to final allocation confirmations by lenders.
Chinese banks have subscribed to more than 60 percent of the facility, with participation also from U.S., European and Singaporean lenders. The financing is unsecured. ByteDance has not commented on the reports. The company is expanding artificial-intelligence capabilities and data-center infrastructure, with some sources linking the funds to overseas AI plans.
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