The Board Listings, Market and Technology Committee of FMDQ has ratified the admission of Parthian Partners Limited’s commercial paper worth N20 billion into the FMDQ Exchange platform.
This is according to a verified tweet by FMDQ Exchange, which reads; “FMDQExchange is pleased to announce the approval for the registration of the Parthian Partners Limited ₦20.00 billion Commercial Paper Programme on its Platform.’’
Prior to the recent admission, Nairametrics had earlier reported that a total of six (6) commercial papers valued at N22.29 billion have been admitted to FMDQ platform since the beginning of this year, with the latest being the admission of Coronation Merchant Bank’s CP series worth N3.63 billion.
Recall that since 2014, FMDQ Exchange has continued to champion the reform of Commercial Papers market, in collaboration with the CBN and through the deployment of key initiatives and strategies, part of which made it possible for the Exchange to cross the N1 trillion mark in 2018.
What this means
Nairametrics understands that Parthian Partners Limited, just like other issuers quoted on the FMDQ Exchange, will enjoy some value-driven services such as; gaining access to a wide range of knowledgeable and capitalised investors, enhanced liquidity among others.
The Commercial Papers will enable Parthian Partners Limited plug its capital shortfalls and meet up with its short-term liquidity, sustaining its business through the process.
What you should know
It is pertinent to note that Commercial Papers quoted on FMDQ’s platform are quoted on FMDQ and traded on the FMDQ-Bloomberg E-Bond Trading and Surveillance System
FMDQ Debt Market size as at close of business on 23rd of February, 2021 currently stands at N23.07 trillion.