ByteDance is nearing its biggest offshore borrowing yet on terms that are cheaper than its last deal, giving the TikTok parent unusually favorable access to bank capital as it weighs a sharp increase in AI spending.
The Chinese technology company has lined up a $29.6 billion dollar-denominated syndicated loan, Bloomberg reported, citing people familiar with the matter. The facility began as a $20 billion financing before banks submitted more than $30 billion of commitments.
Final allocations are still being confirmed, and the agreement has not yet been signed, according to the report.
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Bloomberg said the loan opens at 68 basis points over the Secured Overnight Financing Rate, down from 85 basis points on ByteDance’s previous offshore facility. ByteDance raised $10.8 billion from roughly 20 lenders in 2024, meaning the new borrowing would be nearly three times larger while carrying a 17-basis-point narrower initial spread.
Citigroup and JPMorgan Chase are coordinating the three-year facility, which can be extended to as long as five years. Proceeds are expected to be used mainly for general corporate purposes.
The borrowing comes as ByteDance separately considers capital spending of as much as $70 billion in 2026, according to earlier Bloomberg reporting. The potential budget, more than double last year’s level, would fund data centers and other AI infrastructure.
Bloomberg also previously reported that ByteDance was on track for roughly $50 billion of profit in 2025, with internal cash generation expected to fund much of the expansion.
The lender appetite stands out against a subdued regional loan market. Bloomberg-compiled data showed Asia-Pacific loan volumes outside Japan had fallen to a 16-year low earlier this year. Only SoftBank Group’s $40 billion bridge loan signed in March is larger among Asia’s dollar-denominated loans in 2026.
ByteDance’s original $20 billion financing plan was first reported in June, while demand above $30 billion emerged in August. The newest report adds the near-final size and pricing, showing the scale of bank demand for one of China’s largest private technology companies.
