ByteDance in talks to borrow up to $5 billion – The Information

ByteDance, the Chinese owner of short-video platform TikTok, is in talks with banks to borrow up to $5 billion to refinance debt and pay for overseas expansion, The Information reported here on Wednesday, citing people with knowledge of the matter.

The company and the banks have discussed raising between $4 billion to $5 billion, but the exact size of the loan has not been finalised yet as the debt financing talks are still ongoing, the report said.

ByteDance did not immediately respond to a Reuters request for comment.

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