ByteDance Is Said to Seek Refinancing of $5 Billion Loan

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.

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. The company was taking advantage of low interest rates and would use ...