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ByteDance taps banks for $9.5 bln Asia dollar corporate loan, sources say
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ByteDance taps banks for $9.5 bln Asia dollar corporate loan, sources say
Sep 2, 2024 5:43 AM

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/PN ), Goldman Sachs ( GS ) and JPMorgan ( JPM )

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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