Standard & Poor’s warned a few months ago that 361 Degrees may have trouble refinancing its high-yield notes when they mature, citing difficult refinancing conditions for privately owned Chinese companies. Nonetheless, the Chinese sports apparel and footwear brand has offered to buy back $135 million worth of notes by Jan. 12. The transaction should be completed by Jan. 12. The company still has a debt of $266.4 million outstanding on $400 million worth of 7.25% senior notes that come due on June 3, 2021. The company reported continued sales declines for its core brand in the third quarter, but the economic situation in China has improved since then.