[ByteDance Signs $29.6 Billion Loan Agreement to Support AI Business Expansion] According to Bloomberg, ByteDance has signed a $29.6 billion loan agreement with 28 banks, including Industrial and Commercial Bank of China (ICBC) and HSBC Holdings, marking one of Asia's largest dollar-denominated deals this year. The three-year loan can be extended to a maximum of five years and was finalized last week. The loan amount significantly exceeds the $20 billion ByteDance initially sought, reflecting strong support for the Chinese tech giant. Chinese banks constitute the largest group of lenders, with 15 banks collectively committing $18.9 billion, accounting for 64% of the expanded loan size. Among them, ICBC contributed $3 billion, Bank of China $2.5 billion, and China Construction Bank $1.5 billion. HSBC and two other foreign banks each pledged $1.5 billion. The loan proceeds will be used for general corporate purposes to support the expansion of its AI business.