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ByteDance plans to increase capital expenditures to expand its data centers and artificial intelligence infrastructure to support the company's investment goals. The firm attracted more than $30 billion in orders for a $2 billion syndicated bank loan that features a 3 year term extendable to 5 years. Proceeds from the facility will be used for these technical expansions and general corporate purposes.
The deal marks the largest offshore borrowing for the TikTok developer to date. The high volume of subscriptions reflects strong lender interest as the company ramps up spending on AI tools and hardware to bolster its competitive position.
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