Parthian Partners Limited pays coupon on its ₦10 billion Bond

Parthian Partners Limited has announced the first coupon payment on its debut NGN10 billion 3-year fixed rate senior unsecured short-term Bond. The prompt pay-out is coming exactly six months after the bonds were issued in August 2022.

The bond which was the first short-term bond under the FMDQ Securities Exchange ‘short-term bond’ framework and the first bond by an Inter-dealer broker in the Nigerian capital market, was issued at a coupon rate of 13.50 percent and had been fully subscribed by a wide spectrum of institutional investors. 

Following the successful redemption of Parthian Partners’ maiden ₦20 billion commercial paper issuance in November/December 2021, investor confidence in the company has continued to wax stronger, further buoyed by Agusto & Co’s Bbb (stable outlook) positive affirmation of Parthian’s investment grade ratings, as well as DataPro’s BBB+ (stable outlook) rating, which highlights the Company’s good funding profile, improving profitability, asset quality, support from the owners and strong capitalisation. 

Speaking on the coupon payment, the MD/CEO of Parthian Partners, Oluseye Olusoga said, “We recognise the confidence our investors have reposed in us and will continue to do everything we can to uphold their confidence.” He further assured investors of the company’s commitment to excellence saying, “At Parthian Partners, we are driven by excellence and will always strive to uphold our promise to increase liquidity in the African OTC market while enabling our clients to achieve their economic goals.”

Parthian Partners Limited is Nigeria’s first interdealer broker, licensed by the Securities and Exchange Commission (SEC) to provide brokerage services to market dealers and investors, including pension fund administrators, fund managers, banks, and international financial institutions. Also a member of the FMDQ Exchange, the company primarily facilitates trading in federal government, state government and corporate fixed-income securities. From 2013 to date, Parthian Partners has facilitated over ₦5 trillion in FGN bonds and treasury bill trades and over $1.2 billion in Eurobond transactions.