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ByteDance in talks to borrow up to US$5 billion: Report

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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 (Sep 8), citing people with knowledge of the matter. The company and the banks have discussed raising

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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