Market Chatter: ByteDance Reportedly Signs $29.6 Billion Loan With HSBC, Others

MT Newswires Live
Yesterday

ByteDance signed a $29.6 billion loan with 28 banks, including Industrial and Commercial Bank of China (SHA:601398, HKG:1398) and HSBC Holdings (HKG:0005), Bloomberg News reported Monday, citing a person familiar with the matter.

About $18.9 billion of the three-year facility, which can be extended to up to five years and upsized from an initial $20 billion target, was committed by Chinese banks, according to the report.

Other lenders include Bank of China (HKG:3988) and China Construction Bank (HKG:0939, SHA:601939) and proceeds will reportedly be used for general corporate purposes as ByteDance expands its AI-related investments.

ByteDance, HSBC, ICBC, BOC and China Construction Bank did not immediately respond to MT Newswires' requests 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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10