The Wall Street Journal reported that Energy Future Holdings has launched part of a multibillion-dollar financing effort designed to bail out one of the two major lines of business caught up in its Chapter 11 bankruptcy.

The Journal notes that the company’s is offering its first-lien lenders a chance to swap their old debt, nearly $4 billion, for new debt in the form of a bankruptcy loan.

The Journal said the company was having trouble rounding up support for the exchange offer, which is linked to one of three massive bankruptcy finance packages tied to the effort to clean up the balance sheet of parent Energy Future.

To read the entire WSJ article, click here.

Previously on abfjournal: Energy Future Holdings Reaches $40B Restructuring Agreement, April 30, 2014