Parthian Partners Limited, a leading Nigerian financial services group, has achieved a significant milestone by fully redeeming its N10 billion three-year fixed-rate senior unsecured short-term bond. This successful redemption marks the completion of the company’s debt issuance programme, initiated in August 2022 under the FMDQ Securities Exchange’s short-term bond framework. The bond, issued with a coupon rate of 13.50%, attracted substantial interest and was fully subscribed by a diverse range of institutional investors, signifying strong confidence in Parthian Partners’ financial standing and prospects. Notably, this was the first bond of its kind issued by an interdealer broker in the Nigerian capital market, further highlighting Parthian Partners’ pioneering role in the financial landscape.
The successful redemption of the bond underscores Parthian Partners’ commitment to financial discipline and its unwavering focus on delivering long-term value to investors. Throughout the three-year term, the company consistently met its coupon payment obligations, reinforcing investor trust and strengthening its reputation for reliability. This accomplishment showcases Parthian Partners’ robust financial management and its dedication to upholding the highest standards of corporate governance. The company’s proactive approach to financial management, coupled with its strategic focus on innovation and liquidity provision, positions it for continued success in the Nigerian capital markets.
Parthian Partners’ leadership expressed immense satisfaction with the successful bond redemption, emphasizing the company’s commitment to financial strength and investor confidence. Mr. Oluseye Olusoga, Managing Director/Chief Executive Officer, highlighted the bond’s full repayment as a testament to the company’s financial discipline and its dedication to creating long-term value. Looking ahead, he reiterated Parthian Partners’ commitment to driving innovation and providing liquidity within the Nigerian capital markets. Mr. Olayinka Arewa, Chief Financial Officer, echoed this sentiment, emphasizing that the successful repayment reinforces the company’s commitment to sound financial stewardship and strengthens investor trust.
The successful completion of this bond redemption not only reinforces Parthian Partners’ commitment to financial strength and stability, but also serves as a positive signal to potential investors and stakeholders. Maintaining a strong credit profile is crucial for Parthian Partners’ continued growth and its ability to support key sectors of the Nigerian economy through innovative capital market solutions. The company’s investment-grade ratings from reputable agencies further validate its solid financial foundation and promising future trajectory. Parthian Partners has earned ratings of Bbb (stable outlook) from Agusto & Co and BBB+ (stable outlook) from DataPro, reflecting its robust capitalization, growing profitability, and strong ownership support.
Parthian Partners Limited, licensed by the Securities and Exchange Commission since 2012, has established itself as a prominent player in the Nigerian financial services landscape. As Nigeria’s first inter-dealer broker and a member of the FMDQ Securities Exchange, the company boasts a wealth of experience and expertise in fixed income, structured finance, equity markets, and M&A advisory. Since its inception, Parthian Partners has played a pivotal role in facilitating significant financial transactions, executing over N5 trillion in secondary market transactions and more than $1.5 billion in Eurobond trades. This impressive track record further substantiates its reputation as a highly capable and trustworthy financial institution.
The successful redemption of the N10 billion bond represents a significant achievement for Parthian Partners, demonstrating its financial strength, commitment to investors, and strategic vision. The company’s consistent performance and dedication to innovation position it well for sustained growth and continued success within the dynamic Nigerian financial market. With a strong leadership team, solid financial performance, and a clear focus on delivering value, Parthian Partners is well-poised to capitalize on future opportunities and further solidify its position as a leading force in Nigeria’s financial services industry.
