Nigeria: Parthian Partners Successfully Disburses Second Coupon for N10bn Bond

Parthian Partners Limited has achieved another milestone by promptly paying the second coupon on its N10 billion 3-year fixed-rate senior unsecured short-term Bond.

The announcement of this successful payout comes merely six months after settling the first coupon on 27th January 2023. The company’s promptness in meeting its financial obligations has garnered praise from investors and market observers alike.

Parthian Partners has maintained its favorable ratings from Agusto & Co and DataPro, demonstrating the company’s investment grade. With a Bbb rating from Agusto & Co and a BBB+ rating from DataPro, the company’s strong capitalization, improved profitability, consistent support from stakeholders, and solid funding profile have received positive validation.

The success of Parthian Partners’ N10 billion bond, issued as 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, further solidifies their position. The bond, fully subscribed by a diverse range of institutional investors at a coupon rate of 13.50 per cent, has been followed by timely coupon payments, reflecting the financial robustness of the Parthian Group and their unwavering commitment to safeguarding investor assets, as highlighted by Mr. Olayinka Arewa, the Chief Financial Officer of Parthian.

His assertion emphasized that Parthian Partners Limited has successfully retained its Bbb rating from Agusto & Co, reaffirming the company’s investment grade. The positive validation continues with the BBB+ rating from DataPro, which further solidifies the company’s position, highlighting its strong capitalization, improved profitability, and favorable funding profile.

He reiterated the company’s unwavering dedication to enhancing liquidity in the African OTC market and assisting clients in achieving their objectives.