Parthian Partners Limited (PPL) has redeemed its inaugural public issue at maturity of its Series 1 Tranche A & B commercial paper under its N20billion Issuance Programme.
LEADERSHIP reports that PPL is rated Bbb (stable outlook) by Agusto & Co and the company’s Commercial Paper Programme is rated A1- by DataPro.
The N15billion Series 1 which was issued earlier this year on the FMDQ Exchange, matured on the 26th of November while the N5billion 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 platform.
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.
Speaking on the completion, the group managing director of PPL, Oluseye Olusoga stated that the company is poised to entrench the leading position in the market.
He further said the firm also wanted a well developed relationship with its customers in the capital market as a responsible and dynamic issuer.
He said, “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.