ByteDance, the Chinese owner of short-video platform TikTok, is in talks with banks to borrow up to US$5 billion to refinance debt and pay for overseas expansion, The Information reported on Wednesday , citing people with knowledge of the matter.
The company and the banks have discussed raising between US$4 billion to US$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.
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