(Bloomberg) -- Centerview Partners has held conversations with private credit lenders to refinance the outstanding debt of wheel supplier Superior Industries International Inc., according to people with knowledge of the matter.

The fresh capital would be used to refinance about €250 million ($270 million) of unsecured bonds due 2025, said the people who asked not be identified as the details are private. The company also has about $250 million of redeemable preferred stock and an almost $400 million term loan facility, according to regulatory filings. 

Plans are preliminary and size and details could change, they said. A spokesperson for Superior did not immediately respond to a request for comment, while a representative for Centerview declined to comment.

Superior Industries is the latest in a string of companies tapping the private credit market to take out existing debt. Others include cannabis producer Ascend Wellness Holdings Inc., and dating app Grindr Inc. 

Superior has seen some pressure over the last year due to lower aluminum prices, the reorganization of its German manufacturing facility and the impact of the United Auto Worker strike in the US, according to S&P Global Ratings. In December, S&P revised its outlook to negative from stable due to the refinancing risk, noting that “the majority of its capital structure will become current over the next 6-12 months and could strain its sources of liquidity if maturities are not addressed in a timely manner.”

Formed in 1957, Superior Industries designs and manufactures motor vehicle parts and accessories in North America and Europe. It distributes wheels to companies including General Motors, Volkswagen, and Ford.

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