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1. A portion of a total, especially of a block of assets such as cash or securities: the riskiest tranche of the bond offering; money delivered in two tranches.
2. A cut or slice of meat: a tranche of sirloin.
[French, slice, tranche, from Old French trenche, slice, from trenchier, to slice, cut; see trench.]
(Stock Exchange) a portion or instalment, esp of a loan or share issue
[from French, literally: a slice]