China's ByteDance has secured an unsecured loan facility of approximately $29.6 billion to support its AI investment and is in final discussions ahead of formal signing. The term is 3 years, with a possible extension to as long as 5 years.
China's ByteDance is expected to secure an unsecured loan facility of approximately $29.6 billion, with final discussions under way among the three parties ahead of formal signing. Major banks, including US- and UK-based institutions, are involved in providing the financing, which is expected to be Asia's second-largest as of 2026. According to Caixin, approximately 30 banks will underwrite the facility, with Citigroup and JPMorgan Chase acting as coordinators. Chinese banks are expected to account for more than 60% of the total underwriting amount.
The facility will be unsecured. While ByteDance has described the use of proceeds as general corporate purposes, people familiar with the matter said the funds are expected to support AI-related initiatives and overseas projects, including data-center construction in Southeast Asia. The initial interest rate is expected to be set at SOFR plus 0.68%.