Citigroup, Goldman Sachs, JPMorgan Reportedly Tapped by ByteDance for $9.5 Billion Asia Corporate Loan-March 2024-www.financetom.com

Citigroup, Goldman Sachs, JPMorgan Reportedly Tapped by ByteDance for $9.5 Billion Asia Corporate Loan

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Citigroup, Goldman Sachs, JPMorgan Reportedly Tapped by ByteDance for $9.5 Billion Asia Corporate Loan

Sep 3, 2024 3:04 AM

05:41 AM EDT, 09/03/2024 (MT Newswires) -- Citigroup ( C ) , Goldman Sachs (GS), and JPMorgan Chase ( JPM ) will be selected by TikTok owner ByteDance for a $9.5 billion dollar-denominated corporate loan, two media outlets reported Monday, citing unnamed sources with knowledge of the situation.

The three banks are the coordinators of the funding, which has a tenor of three years and can be extended for up to five years, Bloomberg and Reuters reported, each citing two unnamed sources having knowledge of the matter.

A part of the loan proceeds will be used for refinancing a current $5 billion dual-tranche facility raised in 2021, Bloomberg reported.

Neither the banks nor ByteDance immediately responded to MT Newswires' requests for comment.

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