ByteDance, TikTok's parent company, seeks a $9.5B loan for refinancing and diversification.

ByteDance, TikTok's parent company, is pursuing a $9.5 billion loan, marking the largest dollar-denominated corporate facility in Asia outside Japan. Coordinated by Citigroup, Goldman Sachs, and JPMorgan, the loan has a three-year term extendable to five years. It aims to refinance a prior $5 billion facility and support working capital as ByteDance looks to diversify into e-commerce and generative AI.

September 02, 2024
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