Syncora Holdings Ltd. ("SHL" or the "Company") and its wholly owned subsidiary, Syncora Holdings US Inc. ("SHI"), announced today that SHI completed its previously announced restructuring transactions, including the private exchange offers for Syncora Guarantee Inc.'s ("SGI") outstanding 6% Surplus Notes due 2024 and SGI's outstanding 5% Surplus Notes due 2011 (collectively, the "Existing SGI Surplus Notes") and variation of rights attached to SHL's outstanding Fixed/Floating Series A Perpetual Non-Cumulative Preference Shares, par value US$0.01.  In addition, SGI made a cash payment of approximately $55 million to holders of the Existing SGI Surplus Notes (excluding those Existing SGI Surplus Notes held by SGI), its first payment since the Existing SGI Surplus Notes were issued in 2009.