South Canterbury Finance received another dose of capital injection after Torchlight Fund No. 1 LP subscribed to NZ$22 million of secured convertible notes in Southbury Corporation, which will be used to invest in its ordinary shares.With this infusion, South Canterbury has received NZ$202 million of capital since January 2010, with an option to receive another NZ$15.5 million from Torchlight.Torchlight is one of the funds managed by Perpetual Asset Management, which is the wholly owned asset management arm of Pyne Gould Corporation.   In October, Torchlight Credit Fund arranged a NZ$75 million loan to South Canterbury Finance funded through a syndicate of habitual and eligible investors. South Canterbury used those funds to repay US$50 million of notes held by U.S. investors.Forsyth Barr arranged the capital-raising for the company.A capital infusion was important for South Canterbury as it nervously waits for the outcome of its application for extended government guarantee.  With a Credit Watch Negative on its recently downgraded BB rating, the company has a one-in-two chance of a downgrade within the next three months.