Tranche
noun
1.
Finance.
one part or division of a larger unit, as of an asset pool or investment:
The loan will be repaid in three tranches.
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.
noun
1.
a portion or instalment, esp of a loan or share issue
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