ByteDance Secures $29.6 Billion Loan, Citi and JPMorgan Lead, Deal Not Yet Signed
ByteDance has obtained a $29.6 billion (approximately RMB 198.7 billion) loan with an initial three-year term, extendable to five years. Citi and JPMorgan serve as coordinating banks. The financing, initially sought at $20 billion, grew after strong bank support. As of September 6, banks are still confirming commitments, and the deal remains unsigned. It ranks as Asia's second-largest dollar-denominated loan in 2026.
ByteDance recently secured a loan of $29.6 billion (approximately RMB 198.7 billion), with an initial term of three years, extendable up to five years. Citi and JPMorgan acted as coordinating banks for the financing. ByteDance initially sought $20 billion in funding, but the amount increased to $29.6 billion after receiving support from multiple banks.
As of September 6, banks were still returning confirmations of their respective commitment amounts, and the transaction had not yet been fully signed. This loan is the second-largest dollar-denominated loan in Asia in 2026, trailing only the $40 billion unsecured bridge loan that SoftBank obtained in March 2026 for its additional investment in OpenAI. It is also one of the lower-margin deals among similar borrowings by Chinese technology companies.