ByteDance, the parent company of TikTok, is reportedly securing a $9.5 billion loan from banks, marking the largest dollar-denominated corporate loan in Asia outside of Japan.
According to sources familiar with the matter, the financing will be coordinated by Citigroup, Goldman Sachs, and JPMorgan. This loan, which has a maturity period of three years with an option to extend up to five years, will partially be used to refinance an existing $5 billion dual-tranche facility, as reported by Bloomberg News. The sources chose to remain anonymous due to the confidential nature of the discussions.
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