<p><strong>Noun:</strong></p><ul><li>Finance: one part or division of a larger unit, as of an asset pool or investment: The loan will be repaid in three tranches.</li><li>a group of securities that share a certain characteristic and form part of a larger offering: The second tranche of the bond issue has a five-year maturity.</li><li>any part, division, or installment: We’ve hired the first tranche of researchers.</li></ul><p><strong>Verb:</strong></p><ul><li>(used with object) tranched, tranching: Finance: to divide into parts: tranched debt; A credit portfolio can be tranched into a variety of components that are then further subdivided.</li></ul>