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The CDOs are sliced into "tranches" of different riskiness and sold to investors: the riskier the tranche, the higher the expected return.
For instance, Uruguay in 1971 increased trade protection during an IMF programme that began the year before, and even managed to get another credit tranche the year after.
But some jurors said they didn't feel that convincing, because the tranche the hedge fund bought was also listed as N/A when it wasn't.
According to Boule, the green tranche – the first green issue by a US municipality – was oversubscribed while the rest was undersubscribed, raising only $575m.
The economic rationale, which is the deliberate construction of the future, is present in supplier selection not only at the company but also at the market level: in addition to a focus on its own market share, i.e., its "tranche", the company strives to expand the industry itself by expanding the range of authors and illustrators.
The Raw, Sensitive, and Specific sets used in the comparison with the IF set were derived from the 100% tranche, the 95% tranche, and 75% tranche of the recalibrated WGS variants (Supporting Information, Table S1 and Table S2, and Figure S1).
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Investors could still be found to buy the supposedly less-risky senior and mezzanine tranches, but the bottom tranche containing the riskiest loans, known as the equity tranche, was becoming unmarketable.
Typically, the repayment risk on a pool of 50-100 loans is sliced into tranches, with the lowest tranche (called the equity tranche) bearing any initial losses.
The tranche was the second in a series, following an initial release last month.
The company is in the process of raising the second tranche of the series B round, targeting $30 million total now.
The government plans to launch the first tranche of the G-Cloud catalogue later this month.
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