tranche

tranche

[trahnch, trahnsh; French trahnsh]
noun
1.
Finance.
a.
one part or division of a larger unit, as of an asset pool or investment: The loan will be repaid in three tranches.
b.
a group of securities that share a certain characteristic and form part of a larger offering: The second tranche of the bond issue has a five-year maturity.
2.
any part, division, or installment: We’ve hired the first tranche of researchers.
verb (used with object), tranched, tranching.
3.
Finance. to divide into parts: tranched debt; A credit portfolio can be tranched into a variety of components that are then further subdivided.

Origin:
1930–35; < French: literally, ‘a slice’ < Old French, <trenchier, trancher ‘to cut’; see trench

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
tranche (trɑːnʃ)
 
n
a portion or instalment, esp of a loan or share issue
 
[from French, literally: a slice]

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