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English definition of “tranche”

tranche

noun [C]
 
 
/trɑːnʃ/ 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.
(Definition of tranche from the Cambridge Business English Dictionary © Cambridge University Press)
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