ByteDance Ltd., the parent of TikTok, secures a $29.6 billion loan, according to people familiar with the matter. The financing is reported as Asia’s second-largest dollar-denominated borrowing deal this year and is positioned as substantially larger than ByteDance’s offshore borrowing in 2024.
Reports say the loan is coordinated by major banks, including Citigroup and JPMorgan, and that banks’ demand for the facility exceeds $30 billion. The Next Web notes that the loan facility initially started at $20 billion before growing as orders came in. Bloomberg reports the deal size and describes it as the second-largest in the region for the year, without detailing the full development of the facility size.
While outlets align on the reported amount, bank coordination, and the facility’s scaling from an initial figure, they differ in emphasis—Bloomberg focuses on the deal’s ranking in Asia and its scale, while The Next Web adds more detail about investor interest and the facility’s earlier starting size.
