TikTok’s owner, ByteDance, is looking to banks for a $9.5 billion corporate loan
The owner of TikTok, ByteDance, is approaching banks to obtain a $9.5 billion loan, which would make it the largest corporate facility in Asia denominated in dollars outside of Japan, according to two people with knowledge of the situation on Monday.
The financing is being arranged by Citigroup, Goldman Sachs, and JPMorgan. The sources, who wished to remain anonymous due to the secretive nature of the conversations, stated that the financing has a three-year duration with the possibility of a five-year extension.
The loan will be partially used to repay an existing $5 billion dual-tranche arrangement.
