The Byte Jump Building in Shanghai, China, December 8, 2020.
Nebula | Cost Photos | Barcroft Media | Getty Images
TikTok parent company ByteDance is seeking a $9.5 billion loan from banks, two people familiar with the matter said on Monday, which would be the largest dollar-denominated corporate financing in Asia (excluding Japan).
Citigroup, Goldman Sachs and JPMorgan Chase The funding term is for three years and can be extended to up to five years, the sources said, speaking on condition of anonymity because the discussions are confidential.
Bloomberg News had earlier reported that the loan would be used in part to refinance an existing $5 billion two-tranche facility.
