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Pari-Passu |
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Pari Passu Describing securities or debts with equal claim on some right. A new issue of a security may be issued pari passu, which indicates that it carries the same rights as shares already issued. For example, common shares are all pari passu with respect to each other; this means that no one share has a prior claim to a dividend over any other. However, all common shares are junior to any preferred share, which is likewise pari passu with respect to other preferred shares. Pari-Passu What Does Pari-Passu Mean? Two securities or obligations that have equal rights to payment. Investopedia explains Pari-Passu 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 Terms: Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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