Credit Tranche

Credit just refers to loans. Or the ability to take on loans in one flavor or another.

Loans get issued in "silos" if they all come from the same facility. Like...BigFatBank lends decibillions to tons of clients. Much of that money is in the same sizes and flavors, but tranche A comes due in 5 years, tranche B comes due in 9 years, and tranche C comes due in 20 years. Each has distinct metrics and covenants and terms.

See you in the tranches.