📰 NEWS: ByteDance, the parent company of TikTok and Douyin, has secured a $29.6B loan from nearly 30 banks, up from an initial $20B target after lenders submitted more than $30B in orders. Over 60% of the financing comes from Chinese banks, while the 3-year unsecured facility will mainly support ByteDance's AI expansion and data-center projects outside China. The deal is Asia's second-largest dollar-denominated loan this year, behind SoftBank's $40B financing for OpenAI. 🤖
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