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A consortium of nearly 30 banks provided the TikTok parent company with a 3 year unsecured credit facility to build data centers and scale operations overseas. ByteDance increased the loan to $29.6 billion from an original $20 billion target after strong lender demand, securing the 2nd largest US dollar denominated borrowing in Asia this year.
The funding supports an estimated $70 billion in total expenditure for 2026, more than double the spending in 2025. Most of the capital is allocated to compute infrastructure, with the borrowing terms starting at 68 basis points over SOFR and a provision to extend the duration to 5 years.
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