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tranche definition - finance
A separate section of an overall bond or investment offering. For example, a $4 billion bond offering may have four tranches, each sold in a different currency, such as the U.S. dollar, Japanese yen, euro, and British pound. Each currency offering represents one tranche of the overall issue.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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