ByteDance Shanghai ByteDance building on December 8, 2020, in Shanghai, China.
Xing Yun | Costfoto | Barcroft Media Getty Images
TikTok owner ByteDance is tapping banks for a $9.5 billion loan that would be the largest dollar-denominated corporate facility in Asia ex-Japan, two sources familiar with the matter said on Monday.
Citigroup, Goldman Sachs and JPMorgan is the coordinator of the funding, which has a term of three years and can be extended up to five years, the source, who did not want to be named because the discussions are confidential, said.
Bloomberg News previously reported that the loan would be used to refinance a $5 billion dual-tranche facility.
