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

Sept 2 (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.

Citigroup (C.N), opens new tab, Goldman Sachs (GS.N), opens new tab and JPMorgan (JPM.N), opens new tab 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.

Source from Reuters: https://www.reuters.com/technology/bytedance-taps-banks-95-bln-asia-dollar-corporate-loan-sources-say-2024-09-02/