Structured Credit secures funding

STRUCTURED Credit Co, an Irish underwriter of credit products for investment banks, said it has secured funding to help reorganise its business.

Aquiline, the firm’s largest shareholder, agreed to provide SCC “with sufficient capital to restructure”, the company said.

An Irish court appointed an examiner four months ago to see whether the company could be saved. Nomura Holdings Inc, Japan’s largest securities company, petitioned the court on August 17 to place the company in provisional liquidation.