Platinum Equity-backed Centerfield Media is testing the appetite of private credit investors as it continues efforts to refinance its existing syndicated debt, according to 9fin sources.

The move to sound out direct lender interest comes after the company’s attempt to refinance its debt in the high yield bond market stalled last month, the sources noted. Centerfield Media had launched a $785m five-year bond sale to refinance its existing $785m 6.625% SSNs due August 2026 in mid October.

Since then, the company has been negotiating a refinancing with its existing lender pool. 9fin reported late last month that the company’s lenders, which have organized with Ducera Partners and Paul Weiss, were pushing for material changes to the company’s proposed refinancing package. Lenders were seeking a coupon over 10%, tighter covenants and a 2029 maturity on new senior notes, per the October report.

Centerfield Media is a digital marketing and sales company.

Platinum Equity and Centerfield Media did not respond to requests for comment.