createConnectionModel.ts

const createConnectionModel = (config: AxiosRequestConfig, refreshURL: string) => {
	const unauthenticated = createEvent();
	let refreshRequest: Promise<any>;

	const connection = axios.create(config);
	connection.interceptors.response.use(null, async (err) => {
		if(err.response.code === 401){
			if(err.response.data === "Unauthenticated"){
				unauthenticated();
				throw new Error("unauthenticated");
			}
			
			if(!refreshRequest){
				refreshRequest = connection.post(refreshURL);
				refreshRequest.catch(unauthenticated); //if token refresh did fail
			}

			const response = await refreshRequest;
			if(!response){ //handle situation when token did not refresh
			  return null;	
			}

			refreshRequest = null;
			return connection.request({...err.config, baseURL: ""}); //retrying source request
		}
	});

	return {
		connection,
		unauthenticated
	}
}