tranche
A portion of a securities issue. A public offering, for instance, is normally divided into an institutional and a retail (investor) tranche.
tranche CD
Banking
certificate of deposit sold in series over time a certificate of deposit that is part of a set that is sold by the issuing bank over a period of time. Each of the CDs in a tranche has the same maturity date.
Tranche
An installment of a loan: IMF loans are disbursed incrementally to ensure adherence to attached conditions.
More glossary definitions...
DEBT TRANCHE - Tranches in a multi-class security that have seniority ranking, for repayment, ahead of ...
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Tranche. A piece, portion or slice of a deal or structured financing. This portion is one of several related securities that are offered at the same time but have different risks, rewards and/or maturities.
Tranche:
(1) A term used to refer to IMF's borrowing facilities. The reserve tranche refers to the 25% of a member's quota paid in reserve assets.
(2) In security markets, the term indicates a part issue of securities.
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.
Tranche
When a security is issued in a series rather than all at once, each of the related series is referred to as a tranche.
Transaction ...
Tranche
One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics.
Transaction ...
Tranche
Certain securities, such as collateralized mortgage obligations (CMOs), are made up of a number of classes, called tranches, that differ from each other because they pay different interest rates, mature on different dates, ...
Tranche: A separate portion of a project financing, perhaps with different lenders, margins, and terms.
Active Tranche
Active tranche basically stands for REMIC or Real Estate Mortgage Investment Conduit. The REMIC tranche is basically a bond that is backed up by a large set of mortgages.
Credit Tranches.
The credit tranche policy is the International Monetary Fund's (IMF) basic policy on the use of its general resources. Credit is made available in four tranches, each equivalent to 25 percent of a member's quota.
Tranches offer widely divergent risk-return profiles with different exposures to interest rate and prepayment risks. Some tranches receive principal only, some receive interest only.
Tranche (in banking)
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Triple bond consists of sigma bond and pi bond whereas a double bond consists of sigma bond and pi bond? Read answer...
Tranche - Is the piece, portion or slice of a deal or structured financing. The so called "A to Z" securities of a CMO offering of a partitioned MBS portfolio. It can also refer to segments which are offered domestically and internationally.
Tranche d'imposition
Tranche de revenu assujettie à un taux d'imposition donné. Ce taux s'accroît à mesure que l'on passe à une tranche de revenu supérieur.
Unité ...
Tranche
A part of a financing, from the French word meaning "slice." A single credit facility are often divided into different tranches with different maturity, drawdown, interest payment, repayment, credit support, etc. conditions.
Trust Account ...
Z-Tranche
A special type of bond class in a sequential pay collateralized mortgage obligation. This class of bond does not receive any interest or principal payments until all other tranches have been completely paid off.
For the CMO tranche, the date the last payment would occur at zero CPR.
Popular terms ...
A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes. Pacific Stock Exchange Used for listed equity securities.
Targeted Amortization Class (TAC) bonds Bonds offered as a tranche class of some CMOs, according to a sinking fund schedule.
The bonds are issued in two tranches: in the first tranche repayment increases with the price of the other security, and in the second tranche repayment decreases with the price of the other security.
Stated maturity For the CMO tranche, the date the last payment would occur at zero CPR.
Collateralized mortgage obligation (CMO) A security backed by a pool of pass-throughs , structured so that there are several classes of bondholders with varying maturities, called tranches.
collateralized mortgage obligation (CMO) A type of mortgage-backed security that separates mortgage pools into different maturity, interest or principal classes called tranches.
Dual syndicate equity offering An international equity placement where the offering is split into two tranches - domestic and foreign - and each tranche is handled by a separate lead manager.
Collateralized debt obligations are sold in various tranches. Each tranche of a collateralized debt obligation offers a different risk level and depending on the type of collateralized debt obligations, a different maturity as well.
Multiple tranches of securities are issued by the CDO, offering investors various maturity and credit risk characteristics. Tranches are categorized as senior, mezzanine, and subordinated/equity, according to their degree of credit risk.
UK wine merchants face an unprecedented practical problem with this year's EP campaign: Demand is higher than for any previous vintage (by multiples!) but first tranche allocations will be considerably reduced - the châteaux are expected to release ...
mortgage-backed bond that separates mortgage pools into different maturity classes, called tranches.
Unlike a conventional mortgage-backed security, which has an interest rate and maturity date, the pool of mortgages behind a CMO is subdivided into four tranches, each with a different interest rate and what is known as an average life.
Owners of the first three tranches receive regular interest payments and principal is repaid to reflect the order in which the tranches mature.
Interest-only obligation (or IO obligations): A tranche of mortgage-backed securities whose owner receives only the interest (or a portion of the interest) on the underlying mortgages.
This has happened occasionally with privatisations that went wrong, like the BP tranche of shares which was sold just after the market crashed in October 1987 or the flotations of satellite broadcaster, ...
This makes the analysis of a CDO squared even more difficult than that of a CDO: to value a CDO squared one needs to analyse the risks of all the securities it holds, each of which is a different tranche (class of securities) of many different CDOs, ...
An international equity placement where the offering is split into two
tranches - domestic and foreign - and each tranche is handled by a separate lead manager.
Related Terms:
All equity rate ...
PAC Bond
Stands for Planned Amortization Class bond. A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes.
A security backed by a pool of pass-throughs, structured so that there are several classes of bondholders with varying maturities, called tranches.
Stated maturity
Definition: [crh] For the CMO tranche, the date the last payment would occur at zero CPR.
A type of mortgage backed security that creates separate pools of pass-through rates for different classes of bondholders with varying maturities, called tranches.
Accreting Swap definition :
An interest rate swap in which the notional principal amount increases over time, for example as with a construction loan provided in tranches as each stage of the project is completed.
TSCTrade.com ...
Where the different lenders agree to fund under the same documentation and security packages yet may have different interest rates, repayment profiles, and term, perhaps via A and B tranches.
Co-Manager: ...
The situation is complicated by recent innovations in the credit markets and explosive growth of instruments that allow credit risk to be precisely targeted, such as credit-default swaps and the ability to split different tranches of instruments in ...
According to the Securities Act of 1933, these bonds must first be registered with the Securities and Exchange Commission (SEC) before they can be sold. Yankee bonds are often issued in tranches and each offering can be as large as $1 billion.
Used by traders and back-office units, this is attributed by Sicocam SA in its role as Agence Française de Codification (AFC). When a single issue involves securities with different features - i.e., for different tranches/maturities of a ...
This is one reason why S&P and other ratings agencies have been blamed for the financial crisis. Many sub-prime mortgage bundles were rated as investment grade when they actually held many tranches of mortgages with poor credit risk.
Tranche
One of a combined group of related securities which offer various risk, reward and maturity alternatives....(Read more)
Transaction Fees ...
tranche A portion of a deal or structured financing, which is one of several related... transaction An agreement between a buyer and a seller to exchange an asset for payment.
 See also: Banks, Expense, Prepayment, Values, Indenture
  
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