TikTok parent ByteDance has reportedly approached banks for $9.5B corporate loan

ByteDance (BDNCE) has been working with banks for a $9.5 billion loan, which is supposedly among the biggest dollar-denominated corporate facilities in Asia, according to a Reuters report from Monday, citing two sources with knowledge of the matter.

The report said Citigroup (C), Goldman Sachs (GS), and JPMorgan (JPM) are the coordinators of the financing.

The financing has a term of three years and can be extended to up to five years, sources told Reuters.

According to an earlier Bloomberg report, the loan will be partly used to refinance an existing $5 billion dual-tranche facility.