ByteDance Is Said to Seek Refinancing of $5 Billion Loan
- Firm talks to banks for loan of three years, people say
- ByteDance is seeking to expand beyond its core business
ByteDance secured a total of $5 billion in 2021 via a term and revolver facility each of half that amount, according to data compiled by Bloomberg.
Photographer: Ore Huiying/BloombergThis article is for subscribers only.
ByteDance Ltd., the Chinese owner of TikTok, is preparing to refinance a $5 billion loan by another three years, people familiar with the matter said, in what would be one of the largest such deals for the country’s borrowers this year.
Discussions with banks are underway, according to the people, who asked not to be identified discussing a private matter.