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ByteDance taps banks for $9.5 billion Asia dollar corporate loan, sources say

2024.09.02 08:15

(Reuters) – TikTok-owner ByteDance is tapping banks for a $9.5 billion loan that would be the biggest dollar-denominated corporate facility in Asia ex-Japan, two sources with knowledge of the matter said on Monday.

© Reuters. FILE PHOTO: The ByteDance logo is seen at the company's office in Shanghai, China July 4, 2023. REUTERS/Aly Song/File Photo

Citigroup, Goldman Sachs and JPMorgan are the coordinators of the financing, which carries a tenor of three years and can be extended to up to five years, the sources, who did not want to be named because the discussions are confidential, said.

Bloomberg News had earlier reported that the loan will be partly used to refinance an existing $5 billion dual-tranche facility.



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