Belk Explores Potential Junk-Bond Sale to Refinance Private Debt

Belk Inc. is gauging investor interest in a potential junk-bond sale as the US department-store chain seeks to refinance private debt and boost liquidity.

The retailer, controlled by lenders including funds associated with KKR & Co.and Hein Park Capital Management LP, is considering a $500 million offering of secured notes, according to people with direct knowledge of the matter. Goldman Sachs Group Inc. will be holding meetings with potential investors starting Thursday, the people added, asking not to be identified disclosing private information.

The offering would follow the firm’s one-day bankruptcy in 2021 and a debt refinancing with ...