TikTok parent ByteDance Ltd. secured a $29.6 billion U.S. dollar-denominated loan. This transaction marks Asia’s second-largest borrowing of the year.
The company upsized the deal from an initial $20 billion target. Strong demand and significant bank commitments drove the increase.
Lenders previously showed high appetite for the firm with a $30 billion order book in August. SoftBank holds the regional record for 2024 with a $40 billion bridge loan signed in March.