Pari-passu
Two securities or obligations having equal rights to payment.
Parity Bond ...
Investment Dictionary:
Pari-passu
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the preferred shares are first issued, sometimes their prospectuses (contracts) contain protective provisions which prevent the issuance of new preferred shares with a senior claim. Individual series of preferred shares may have a senior, pari-passu ...
 See also: Interest, Debt, Dividends, Market, Issue
  
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