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tranche

[trahnch, trahnsh; French trahnsh] /trɑntʃ, trɑ̃ʃ; French trɑ̃ʃ/
noun
1.
Finance.
  1. one part or division of a larger unit, as of an asset pool or investment:
    The loan will be repaid in three tranches.
  2. 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
1930-1935
1930-35; < French: literally, ‘a slice’ < Old French, <trenchier, trancher ‘to cut’; see trench
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for tranche

tranche

/trɑːnʃ/
noun
1.
a portion or instalment, esp of a loan or share issue
Word Origin
from French, literally: a slice
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for tranche
n.

c.1500, from French tranche, from trancher, trencher "to cut" (see trench). Economic sense is from 1930.

Online Etymology Dictionary, © 2010 Douglas Harper
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