Question: What Does First Tranche Mean?

What is a tranche in project management?

Another useful concept from the MSP standard is tranches—these are a group of projects structured around distinct step changes in capability and benefit delivery.

The concept facilitates those programs whose total plan cannot be determined at the beginning.

A program may have only one tranche, or it could have dozens..

What is another word for batch?

SYNONYMS FOR batch 1 group, lot, number, bunch, gang, set, pac, flock, troop.

What is Tranche Number?

In structured finance, a tranche is one of a number of related securities offered as part of the same transaction. … The word tranche is French for ‘slice’, ‘section’, ‘series’, or ‘portion’, and is a cognate of the English ‘trench’ (‘ditch’).

How do you set up a program?

The programme manager in establishing the programme will:Define clear objectives.Agree an approach.Agree roles and responsibilities with the team.Set-up communication channels.Agree priorities of the projects that make up the programme.Complete project planning.

What is a Programme board?

The Programme Board has a key role in supporting the Senior Responsible Owner in making decisions and providing both challenge and approval on issues affecting the progress of the programme.

How do CDO tranches work?

CDO Credit Structure Initially, all the cash flows from a CDO’s collection of assets are pooled together. This pool of payments is separated into rated tranches. … The ‘AAA’-rated senior tranche is generally the first to absorb cash flows and the last to absorb mortgage defaults or missed payments.

What is another word for tranche?

What is another word for tranche?slicesharepartpieceallotmentcutportionproportionquotaallocation149 more rows

What is a synonym for phase?

Synonyms. phase angle cycle rhythm round point point in time.

Why Is prepayment a risk?

Prepayment risk is essentially the risk that the mortgage-backed security buyer will receive, say, seven years of interest income at an agreed-upon rate, on top of principal repayment, instead of 10 years of such interest. Prepayment forces the buyer to reinvest the principal, often at a lower rate of return.

What does tranche mean in business?

Tranches are pieces of a pooled collection of securities, usually debt instruments, that are split up by risk or other characteristics in order to be marketable to different investors.

What is the purpose of Tranching?

Tranches allow investors to structure their investment earnings and income to match their cash flow needs. Investors who need the cash sooner could buy a shorter maturity investment, while those who have a longer time horizon can invest in the longer-maturity tranches.

What is tranche disbursement?

Tranche Loans are loans which are disbursed in multiple disbursements. An example of Tranche Loan is Home Loans which are disbursed in multiple steps as per the progress in completion of the house/apartment being purchased or constructed.

What is 1st tranche?

First Tranche means one-third of the Performance Share Units granted under a Transition Award.

What is a tranche payment?

A tranche is a piece or a part of something, usually money. … Usually, it’s part of a larger sum of money, like a mortgage payment, half of a bonus payment, or an installment of lottery winnings. People who work in banking and finance use tranche to mean one bond or security within a larger financial deal.

What is a Tranche B Loan?

The Tranche B lender quantifies that excess value and helps to bridge any debt gap the borrower may have by lending against this value in the form of a term facility and taking a secured position against the borrower’s stock and/or assets.

How are Cdos priced?

For a CDO tranche, when inputting its implied correlation into the market standard model, the simulated price of the tranche should be its market price. … For example, the equity tranche 0-10% includes three CDX NA IG tranches: 0-3%, 3-7%, and 7-10%. The premium payment on the equity tranche 0-10% includes three parts.

How do you use tranche in a sentence?

Tranche in a Sentence 🔉Becky was able to withdraw a tranche of her retirement funds from and used the money to pay off debt. … A tranche of the Wallstreet stocks was transferred from one stockholder to the other.More items…

Is Tranche A French word?

In French, tranche means “slice.” Cutting deeper into the word’s etymology, we find the Old French word trancer, meaning “to cut.” Tranche emerged in the English language in the late 19th century to describe financial appropriations.