ByteDance Lands $29.6B Loan, Asia's Second-Largest of 2026

ByteDance drew more than $30 billion of orders for a syndicated bank loan it had originally sized at $20 billion, and walked away with $29.6 billion. Bloomberg reported that the facility is Asia's second-largest dollar-denominated borrowing this year, behind only SoftBank Group's $40 billion bridge loan signed in March.

Citigroup and JPMorgan coordinated the deal. The tenor is three years and can be extended to as long as five. The opening margin is 68 basis points over the Secured Overnight Financing Rate, tighter than the roughly 85 basis points over SOFR ByteDance paid on its 2024 offshore facility, which raised $10.8 billion. Before the deal closed, bankers cited by IFR flagged worries about whether "lenders can take large holds at that level" given the tighter pricing.

Proceeds are earmarked "mainly for general corporate purpose," per the reporting. Separately, Yahoo Finance, relaying Bloomberg, notes ByteDance is weighing plans to lift capital spending to as much as $70 billion in 2026, more than double the previous year, and potentially $100 billion in 2027 for data centers and AI infrastructure. The loan reporting does not break the $29.6 billion down against those buckets.

The print lands into a run of Asia AI-infrastructure activity we've been tracking (our 44th ByteDance story in the last 90 days), coming days after Korea committed $919B to an 18.4GW datacenter buildout by 2035 and while ByteDance folds its Trae and Coze coding tools into Doubao to press its consumer AI push.