TikTok-parent ByteDance in talks to borrow up to $5 bn: Report

TikTok-parent ByteDance is in talks with banks to borrow up to $5 billion, The Information reported. ByteDance plans to use more than half of the money to refinance its existing debt and spend the rest on its operations in the US, Europe and other parts of the world. The company and the banks have discussed raising between $4-5 billion.