CBL Corporation Limited, a NZ based insurance and reinsurance company, has launched an initial bond offer to raise up to $55m from wholesale investors. The offer closed oversubscribed one day after it opened. The bond pays a fixed rate of 8.25 per cent and has a final maturity of five years but can be called by the issuer after three or four years at $103.00 and $101.50 respectively. There is...