27.2 C
Lagos
Wednesday, February 1, 2023

Parthian Partners Redeems First Tranche Of Debut N20billion Commercial Paper

Must read

- Advertisement -
- Advertisement -

Parthian Partners Limited, Nigeria’s foremost inter-dealer brokerage firm, has announced the successful maturity and redemption of its debut Series 1 Tranche A & B Commercial Paper under its NGN 20billion Issuance Programme. The NGN 15billion Series 1 which was issued earlier this year on the FMDQ Exchange, matured on the 26th of November while the NGN 5billion Series 2 matures on the 30th of December 2021. The issuance represents the first by an Inter-dealer brokerage firm in the Nigerian capital market on the FMDQ Securities Exchange Limited (“FMDQ”) platform.

Parthian Partners Limited is rated Bbb (stable outlook) by Agusto & Co and the company’s Commercial Paper Programme is rated A1- by DataPro, evidencing the institution’s good funding profile, improving profitability and support from the owners, as well as good capitalisation.

The issuance was led by Coronation Merchant Bank, Renaissance Securities (Nigeria) Limited and Afrinvest West Africa Limited and was largely subscribed to by investors in the Banking, Asset Management, Pension Fund Administration, and Insurance sectors in Nigeria.

On the successful redemption, Oluseye Olusoga, Group Managing Director of Parthian Partners Limited, stated, “On our inaugural issuance, institutional investors entrusted us as the premier inter-dealer broker in the domestic market. We are pleased to repay this trust and redeem our inaugural public issue at its maturity. We look to further entrench our market leading position and develop our relationship in the capital market as a responsible and dynamic issuer.”

Parthian Partners Limited is a member of the Parthian Group, duly licenced by the Securities and Exchange Commission (SEC) to operate as an inter-dealer broker in Nigeria. The Issuer is one of the six FMDQ Securities Exchange Limited (FMDQ) registered inter-dealer brokers in Nigeria. Parthian Partners provides wholesale brokerage services for transactions among market dealers and investors, facilitating trading in municipal bonds, treasury bills, corporate bonds, Eurobonds and local contractor bonds. Parthian Partners remains committed to proving itself as a market leader in fixed-income, equities and structured finance both in Nigeria and across Africa.

- Advertisement -
- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -

Latest article