ByteDance Seeks $20 Billion in Its Largest-Ever Offshore Loan

ByteDance Seeks $20 Billion in Its Largest-Ever Offshore Loan ByteDance Ltd., the developer of TikTok, is in preliminary talks with banks for a borrowing of about $20 billion, people familiar with the matter said, in what would be the firm’s largest offshore loan yet at a time when it’s boosting investments in artificial intelligence. The Beijing-based social media conglomerate has approached banks for the new-money loan, which could carry a three-year tenor, with the option to extend to as long as five years, the people said, who asked not to be identified discussing private matters. It’s unclear how ByteDance would use the funds, the people said, adding that discussions are in early stages and details could change. [Image text:] iByteDance7