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ByteDance Ltd., the developer of TikTok, has locked in a $29.6 billion loan, according to people familiar with the matter

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In Asia’s second-largest dollar-denominated borrowing this year.

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ByteDance Ltd., the developer of TikTok, has secured a $29.6 billion loan, according to people familiar with the matter, in Asia’s second-largest dollar-denominated borrowing this year.

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