General Electric launched a $727 million securitization backed by equipment lease receivables at wider spreads than the last equipment loan securitization to price, CNH Equipment Trust 2014-B, according to a person familiar with the deal.

The capital structure of the deal, called GE Equipment Transportation LLC, Series 2014-1, includes $700 million of class A notes. The one-year, class A-1 notes, rated 'AAA'/ 'Aaa' respectively by Fitch Ratings and Moody's Investors Service, priced at a spread of 25 basis points over the eurodollar synthetic forward curve (EDSF). The two-year, triple-A rated class A-2 notes priced at 31 basis points over interpolated swaps.

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