TikTok Owner Gets a $1.3 Billion Loan From Wall Street
- Wall Street lenders include Morgan Stanley, Goldman Sachs
- Loan pays an interest margin of 280 basis points plus Libor
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Bytedance Ltd., China’s most valuable startup, has secured a $1.335 billion syndicated loan from a group dominated by Wall Street banks, according to people familiar with the matter.
Morgan Stanley and Goldman Sachs Group Inc. led the deal alongside Bank of China Ltd. and CMB Wing Lung Bank Ltd., said the people who are not authorized to speak publicly and asked not to be identified. Bytedance, which operates the hugely popular apps TikTok and its Chinese counterpart Douyin, declined to comment on the loan.