pari passu
C2CEFR level
90/100Rarity: very rare
TechnicalRegister
Law adverb
Ranking equally and without preference among competing claims.
The unsecured creditors rank pari passu in the distribution.
Business adverb
Ranking equally, without preference among creditors or securities.
The new notes rank pari passu with the existing senior unsecured debt.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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