TapTechNews September 27th news, this afternoon Beijing time, according to Bloomberg citing informed sources, ByteDance will sign a $10.8 billion (TapTechNews note: currently about 75.587 billion yuan) loan, This will be the largest US dollar corporate financing in Asia ever except for Japan..
These unnamed people said when discussing private affairs that about 20 lenders (including international banks and Chinese banks, as well as some branches) will provide funds for this transaction.
It is reported that ByteDance is under increasingly strict review in the US and is facing fierce competition in the AI field in China. Even so, this loan still received oversubscription and increased compared to the initial target size of $9.5 billion (currently about 66.489 billion yuan). This shows that despite unfavorable factors, lenders are still eager to make loans.
ByteDance is committed to expanding its business into areas beyond online advertising, including e-commerce, generative AI.
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News that ByteDance is seeking a record $9.5 billion loan to support global business expansion