Pari passu

The JC’s guide to pithy Latin adages →Go uptown Latin Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

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.

See also

• debt security