pari passu

pari passu
A lending term meaning at an equal rate or pace. American Banker Glossary
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Refers to the equal ranking of securities. Bloomberg Financial Dictionary
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Occurs when securities with different characteristics ( e.g. shares with different entitlements to dividend or voting rights) become identical in all respects ( e.g. pari-passu or assimilation). May be scheduled in advance ( e.g. shares resulting from a bonus may become fungible after a pre-set period of time) or may result from outside events ( e.g. merger, reorganisation, issue of supplementary tranches, etc.). Euroclear Clearing and Settlement glossary
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This is the result of a line of stock being issued with a constraint on it, i.e. Not ranking for a particular dividend. Once this constraint is passed the line of stock will be merged with the existing. London Stock Exchange Glossary

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pari passu par‧i pas‧su [ˌpæri ˈpæsuː] adverb formal
equally:

• The Dollar Preference Shares will rank pari passu with the existing Redeemable Preference Shares.

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   Securities issued with a pari passu clause rank equally with existing securities of the same class. Pari passu means 'with equal step' in Latin.

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pari passu UK US adverb FINANCE, LAW
used to say that different people or things are dealt with equally: »

The new shares will rank pari passu in all respects with the existing ordinary shares.

»

There will be no preferential treatment and his assets will be distributed pari passu to family members.


Financial and business terms. 2012.

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Look at other dictionaries:

  • Pari passu — is a Latin phrase that literally means with equal step [cite web last = Belinsky first = Natalya authorlink = coauthors = title = Glossary of Colloquialisms (Starting with P ) work = publisher = TranslationDirectory.com date = url =… …   Wikipedia

  • Pari passu — Saltar a navegación, búsqueda Pari passu es una frase en latín que literalmente significa con igual paso. [1] Lo que es a veces traducido como en igualdad de condiciones, al mismo nivel, con igual fuerza, o moviéndose en forma conjunta, y por… …   Wikipedia Español

  • pari passu — share and share alike , a term used in several contexts but especially in relation to the rights and ranking of creditors of an insolvent estate; it denotes an entitlement to payment of their debts in shares proportionate to their respective… …   Law dictionary

  • pari passu — Latin phrase meaning ratably or without preference (SA Bankruptcy.com) Equally and without preference. This term is often used in bankruptcy proceedings where creditors are said to be paid pari passu, or each creditor is paid pro rata in… …   Glossary of Bankruptcy

  • Pari passu — (lat.), in gleichem Schritt, gleichmäßig …   Meyers Großes Konversations-Lexikon

  • Pari passu — (lat.), gleichen Schritts, gleichmäßig …   Kleines Konversations-Lexikon

  • pari passu — A la vez o en iguales proporciones. Diccionario Mosby Medicina, Enfermería y Ciencias de la Salud, Ediciones Hancourt, S.A. 1999 …   Diccionario médico

  • pari passu — Latin, lit. with elegant step …   Etymology dictionary

  • pari passu — [pä′rē pä′so͞o΄, pā′ri΄ pas′o͞o΄] [L] 1. at an equal pace 2. in an equal or like way 3. Law without preference or priority …   English World dictionary

  • Pari-passu — A Latin phrase meaning “equal footing” that describes situations where two or more assets, securities, creditors or obligations are equally managed without any display of preference. An example of pari passu, occurs during bankruptcy… …   Investment dictionary

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