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Market Chatter: ByteDance Secures $29.6 Billion Loan on Strong Bank Commitments

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ByteDance, the owner of TikTok, has secured a $29.6 billion loan, Bloomberg News reported, citing people familiar with the matter.

The company had initially sought a $20 billion facility, which would make the enlarged borrowing the second-largest dollar-denominated loan in Asia this year, according to the report.

Proceeds will be used mainly for general corporate purposes. The deal has not yet been signed, as banks are still confirming their allocations, the report added.

ByteDance did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

What else is happening in Asia?

Asia

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SHA:601168
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SET:GUNKUL
Asia

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HKG:0933HKG:2331