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 per cent 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 highlight 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 on 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.