tranche

tranche
A segment or tier within a loan or security.
Also known as a class.
For example, collateralized mortgage obligations (CMOs) are securities for which the cash flows are segregated into tranches and sold separately. Each tranche is a separate security with its own maturity date and interest rate. CMOs may have over a hundred tranches or classes. Tranche is the French word for slice. Tranches are used to reallocate principal and interest cash flows so that some classes have lower risk while some have higher risk.
See waterfall. American Banker Glossary
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One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. Bloomberg Financial Dictionary

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tranche tranche [trɑːnʆ] noun [countable] FINANCE
part of a larger sum of money or collection of shares:

• The government has traded 200 million Eurobonds in two tranches.

• The second tranche of the loan would be repaid over three years.

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   French word for a slice. Used widely to mean a portion, allocation or instalment.

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tranche UK US /trɑːnʃ/ noun [C] FINANCE
► one of the parts into which a particular financial arrangement, payment, investment, etc. is divided: »

The oil company will pay $2.4 billion in cash up front, with three annual tranches of $1.25 billion to come.

 »

They will follow up last year's initial public offering with the sale of a further tranche of shares worth up to €500m.


Financial and business terms. 2012.

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Look at other dictionaries:

  • tranche — [ trɑ̃ʃ ] n. f. • 1213; de trancher ♦ Ce qui est coupé, tranché. A ♦ Sens propre 1 ♦ Morceau assez mince, coupé sur toute la largeur d une chose comestible. Tranche de pain. ⇒ tartine, toast. Tranche de viande, de bœuf (⇒ bifteck) , de veau (⇒… …   Encyclopédie Universelle

  • tranché — tranche [ trɑ̃ʃ ] n. f. • 1213; de trancher ♦ Ce qui est coupé, tranché. A ♦ Sens propre 1 ♦ Morceau assez mince, coupé sur toute la largeur d une chose comestible. Tranche de pain. ⇒ tartine, toast. Tranche de viande, de bœuf (⇒ bifteck) , de… …   Encyclopédie Universelle

  • tranché — tranché, ée (tran ché, chée) part. passé de trancher. 1°   Coupé, séparé en coupant. •   Il opina, sans s appuyer sur rien, que M. Fouquet aurait la tête tranchée à cause du crime d État, SÉV. Lett. à Pompone, 17 déc. 1664. •   La partie la plus… …   Dictionnaire de la Langue Française d'Émile Littré

  • tranche — Tranche. s. f. v. Morceau coupé en long & un peu mince. Il ne se dit guere que des choses qu on mange. Tranche de boeuf, de jambon, de pasté, d esclanche, de longe de veau, de poulet d inde, de canard. tranche de cimier de boeuf. tranche de melon …   Dictionnaire de l'Académie française

  • tranche — / trä sh/ n [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 …   Law dictionary

  • tranche- — ⇒TRANCHE , élém. de compos. Élém. issu d une forme du verbe trancher, représentant ce verbe au sens de « séparer en deux, détacher d un tout, en coupant net, à l aide d un instrument », entrant dans la constr. de qq. termes. V. tranche montagne… …   Encyclopédie Universelle

  • Tranche — 〈[trã:ʃ] f. 19〉 1. fingerdicke Scheibe von Fleisch od. Fisch 2. Teil einer Anleihe [→ tranchieren] * * * Tran|che [ trã:ʃ(ə) ], die; , n […ʃn̩] [frz. tranche, zu: trancher, ↑ tranchieren]: 1. (Kochkunst) fingerdicke Scheibe von Fleisch od. Fisch …   Universal-Lexikon

  • tranche — [tränsh] n. 〚Fr, lit., a slice〛 a portion, share, installment, etc. [the final tranche of the loan] * * * …   Universalium

  • Tranche — [ trã:ʃ(ə)] die; , n [...ʃn̩] <aus gleichbed. fr. tranche zu trancher, vgl. ↑tranchieren>: 1. fingerdicke Fleisch od. Fischschnitte. 2. Teilbetrag einer Wertpapieremission (Wirtsch.) …   Das große Fremdwörterbuch

  • tranche — (n.) c.1500, from Fr. tranche, from trancher, trencher to cut (see TRENCH (Cf. trench)). Economic sense is from 1930 …   Etymology dictionary

  • tranche — s. f. 1. Pedaço cortado. = FATIA 2. Parte separada. = PARCELA   ‣ Etimologia: francês tranche …   Dicionário da Língua Portuguesa

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