Let`s break it down a bit. A capital measure is any action taken by a company concerning its shareholders, such as for example. B the issue of bonds, the payment of dividends, the issue of shares, etc. If a capital measure is carried out on the basis of Pari Passu, it means that all shareholders have equal rights to everything that is taken into account in the remedy. Pari-passu – in Latin for “equality” – is a financing agreement that gives multiple lenders the same right to the assets used to secure a loan. If the borrower is not able to meet the payment terms, the assets can be sold and each lender receives an equal share of the proceeds at the same time. Once everything is liquid, Simple Symbols distributes the funds “on an equal footing” to bondholders, at the same level and at the same time. All bondholders have the same rank and the same senior.