TikTok owner gets US$1.3bil loan from Wall St

Rising star: The logo of TikTok application is seen on a screen in this picture illustration. The TikTok app has been installed more than one billion times via the App Store and Google Play, according to Sensor Tower. — Reuters

HONG KONG: Bytedance Ltd, China’s most valuable startup, has secured a US$1.335bil 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.