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tranche

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Financial Dictionary

tranche

A class of bonds. Collateralized mortgage obligations are structured with several tranches of bonds that have various maturities.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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Legal Dictionary

Main Entry: tranche
Pronunciation: 'tränsh
Function: noun
Etymology: French, literally, slice, from Old French, from trenchier trancher to cut
: a division or portion of a pool or whole: as a : an issue of bonds derived from a pooling of like obligations that is differentiated from other issues esp. by maturity or rate of return b : a bond series issued for sale in a foreign country
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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