(Reuters) ByteDance is courting Wall Street banks for more than $3 billion loan to refinance its debt, aiming to take advantage of existing low interest rates.
The terms and the size of the projected loan are subject to change.
ByteDance, which is the owner of the short-video platform TikTok, sought public listing at the start of this year but shelved plans in April.
ByteDance secured $1.3 billion in 2019 from a syndicate of several top banks, including Goldman Sachs, JPMorgan, and Morgan Stanley. The loan matures in April 2022.
