Earlier this week, FIIG Securities closed its first 'kangaroo deal' - a A$55 million bond issue for New Zealand credit and financial risk insurer CBL Corporation.  Although it is the first time FIIG, better known as a specialist fixed-income broker, has acted for a non-Australian company wishing to enter the Australian bond market, it is the eighth time it has  arranged a bond issue for a mid-size corporation. "This is the eighth bond we have brought to market for mid-cap companies, the first for a New Zealand-based company and the first for a group with a credit rating," said FIIG chief executive Mark Paton.The five-year, senior secured fixed-rate Australian dollar note carries an indicative interest rate of 8.25 per cent per annum paid semi-annually in arrears.CBL Insurance has an investment grade rating of B+/bbb- from AM Best Ratings Agency, a specialist insurance rating agency that also rates groups such as QBE and Swiss Re. The company said it intended to use the capital raised in the $55 million bond offer to fully repay current secured bank debt and provide working capital for its main operating subsidiaries.