Data-Center Firm Cyxtera Mulls Sale, Cash Raise to Tackle Debt

Cyxtera Technologies Inc. is exploring options including a potential sale and a possible capital raise as it continues discussions with lenders on how to address debt due in 2024, according to people with knowledge of the matter.

Potential suitors for the data-center firm include private equity funds, who have already signed nondisclosure agreements to look at the business, said the people, who asked not to be identified because the matter is private.

The latest moves by the company come as it looks to avoid a bankruptcy filing, the people said. However, Cyxtera could seek Chapter 11 protection in which term ...