Pari-passu

What does it mean?
Two securities or obligations having equal rights to payment.

In Other Words...
The term is Latin and translates to "without partiality." For example, a secondary issue of shares that carry equal rights with existing shares are said to "rank pari passu."

Related Links
Stock Basics Tutorial - If you're new to the stock market and want the basics, this is the tutorial for you!

Related Terms
Junior Security | Senior Security | Stock | Subordinated Debt | Unsubordinated Debt

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