Spandex Maker Lycra Seeks Private Deal for Debt Refinancing

Textile company Lycra Co. is sounding out investors on a private deal that would help it refinance the most senior part of its debt, according to people familiar with the matter.

The firm, which makes form-fitting elastic material used for yoga and cycling clothing, has been approaching direct lenders and opportunistic funds to raise about $350 million, some of the people said, asking not to be identified discussing private information.

The funds would help refinance a term loan due February next year and €300 million ($325 million) of notes maturing in April, the people said. The company is also reviewing ...