TikTok’s parent company holds Wall Street discussions over refinancing debt Riyadh: Internet company ByteDance, the Chinese owner of short-form video platform TikTok, is in talks with Wall Street banks to borrow more than $3 billion to refinance its debt. Sources revealed that the firm plans to take advantage of current low interest rates to repay its debt, and the terms and loan size are still subject to changes. ByteDance declined to comment on the claims but technology news website The Information reported that the company and the banks discussed raising between $4 billion and $5 billion to refinance debt and fund overseas expansion. At the start of this year, ByteDance began exploring the possibility of a public listing, sources told Reuters, but in April the firm said it had no imminent plans for an initial public offering. In 2019, ByteDance secured a loan of around $1.3 billion, which will mature in April next year, from a syndicate of 12 banks including Goldman Sachs, JP Morgan, Morgan Stanley, UBS, Citi, Bank of China, and China Merchants Bank, according to data provider Dealogic.