Duale, Ovia & Alex-Adedipe advises Parthian Partners Limited on its ₦10 Billion Bond Issuance

Duale, Ovia & Alex-Adedipe are pleased to have been the law firm which advised and acted as the Solicitor to the issue in respect of the successful issuance of Parthian Partners Limited’s (“Parthian”) debut NGN10 billion 3-year Fixed Rate Senior Unsecured Short-term Bond (the “Issuance”).

The Issuance represents 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.

Parthian 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.

Parthian intends to utilize the net proceeds of the Issuance to increase liquidity in the Nigerian debt market by discounting Federal Government of Nigeria (FGN) promissory notes and supporting the FGN bond market.

The Firm’s transaction team was led by Adeleke Alex-Adedipe together with Sodeek Oluwatobi Oyedeji and Tobiloba Awosika.