Pari passu: Difference between revisions
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{{a|latin|}}A gloriously baffling | {{a|latin|}}A gloriously baffling [[Latin]] expression which means, literally, “side by side”; “at the same rate” or “on an equal footing”. In the context of [[capital structure]] of a [[securities]] issuer, it usually denotes debt claims or [[Security|securities]] that share seniority with [[senior]] [[unsecured debt]]. | ||
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Latest revision as of 13:30, 14 August 2024
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The JC’s guide to pithy Latin adages
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A gloriously baffling Latin expression which means, literally, “side by side”; “at the same rate” or “on an equal footing”. In the context of capital structure of a securities issuer, it usually denotes debt claims or securities that share seniority with senior unsecured debt.