Japan’s embattled automaker Nissan is exploring a major funding initiative worth over 1 trillion yen ($7 billion) through debt and asset sales, Bloomberg News reported Wednesday, citing internal documents.

The proposed package includes issuing up to 630 billion yen in convertible securities and bonds, including high-yield US dollar and euro notes. It also features a potential £1 billion ($1.35 billion) syndicated loan backed by UK Export Finance, though no official confirmation has been made.

In addition to debt issuance, Nissan may offload stakes in long-time alliance partner Renault and battery maker AESC Group, alongside selling plants in South Africa and Mexico, according to the report.

A Nissan spokesperson declined to comment on the report, calling it speculation, while UK Export Finance has not responded.

The funding plan reportedly includes rolling over some existing debt but has yet to receive approval from Nissan’s board.

The move follows Nissan’s announcement earlier this month of a sweeping restructuring plan aimed at cutting 15% of its global workforce and reducing its number of car plants from 17 to 10. Sources have also indicated possible plant closures in Japan and Mexico and a halt to production in South Africa.

Nissan shares initially climbed over 4% following the Bloomberg report but pared gains to close up just 0.5%.