ByteDance attracted applications for bank loans exceeding $30 billion

ByteDance Ltd. attracted applications totaling more than $30 billion for its large syndicated loan, underscoring strong lender interest as the company ramps up investment in AI.

The $20 billion loan, which includes an option to increase the amount, will be ByteDance’s largest overseas borrowing. The loan has a three-year term with an option to extend to five years. ByteDance plans to use the proceeds primarily for general corporate purposes and is considering plans to increase capital expenditures to expand its data centers and other artificial intelligence infrastructure.