TRANCHE
tranche (transh), n. [French ¡°slice¡±] Securities.
1. A bond issue derived from a pooling of similar debt obligations. ? A tranche usu. differs from other issues by maturity date or rate of return.
2. A block of bonds designated for sale in a foreign country. ¡ª Also spelled tranch; trench. See COLLATERALIZED MORTGAGE OBLIGATION.
How do bilingual lawyers in China usually translate the term TRANCHE?
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