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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
May 18, 2000
AmeriCredit Automobile Receivables Trust 2000-B
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(Exact name of registrant as specified in its charter)
United States 333-84155 88-0359494
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(State or Other Jurisdiction of (Commission File (I.R.S. Employer
Incorporation) Number) Identification No.)
c/o AmeriCredit Financial Services, Inc. 76102
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Attention: Chris A. Choate (Zip Code)
801 Cherry Street, Suite 3900
Fort Worth, Texas
(Address of Principal Executive Offices)
Registrant's telephone number including area code - (817) 302-7000
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(Former name or former address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets
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Description of the Securities and the Auto Loans
AmeriCredit Financial Services, Inc., as Sponsor, has registered an
issuance of $1,200,000,000 in principal amount of Securities (the "Securities")
on Form S-3. Pursuant to the Registration Statement, AmeriCredit Automobile
Receivables Trust 2000-B (the "Trust") issued $192,000,000 Class A-1 6.890%
Automobile Receivables Backed Notes, $393,000,000 Class A-2 7.520% Automobile
Receivables Backed Notes, $275,000,000 Class A-3 Floating Rate Automobile
Receivables Backed Notes and $340,000,000 Class A-3 Floating Rate Automobile
Receivables Backed Notes, (collectively, the "Notes") on May 25, 2000. This
Current Report on Form 8-K is being filed to satisfy an undertaking to file
copies of certain agreements executed in connection with the issuance of the
Notes, the forms of which were filed as Exhibits to the Registration Statement.
The Notes were issued pursuant to an Indenture attached hereto as
Exhibit 4.1, dated as of May 22, 2000, between the Trust and Bank One, N.A., as
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Trustee and Trust Collateral Agent (the "Trustee" and the "Trust Collateral
Agent").
The Notes will evidence indebtedness of the Trust, the assets of which
consist primarily of retail installment sales contracts (the "Receivables")
secured by new and used automobiles, light duty trucks and vans financed
thereby.
As of the Closing Date, the Receivables had the characteristics
described in the Prospectus Supplement dated May 18, 2000 (the "Prospectus
Supplement") filed with the Commission pursuant to Rule 424(b)(5) of the Act.
Item 5. Other Events
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The consolidated financial statements of Financial Security Assurance
Inc. and subsidiaries as of December 31, 1999 and December 31, 1998 and the
related consolidated statements of income, changes in shareholder's equity and
cash flows for each of the three years in the period ended December 31, 1999,
prepared in accordance with generally accepted accounting principles, included
in the Annual Report on Form 10-K, as amended, of Financial Security Assurance
Holdings Ltd. and the unaudited consolidated financial statements of Financial
Security Assurance Inc. and subsidiaries as of March 31, 2000, as amended,
included in the Quarterly Reports on Form 10-Q of Financial Security Assurance
Holdings Ltd. for the period ended March 31, 2000 are incorporated by reference
in (i) this Current Report on Form 8-K; (ii) the Prospectus dated as of
September 16, 1999 of AmeriCredit Financial Services, Inc. and (iii) the
Prospectus Supplement for the Trust, and shall be deemed to be part hereof and
thereof.
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Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Not applicable
(b) Not applicable
(c) Exhibits:
1.1 Underwriting Agreement, dated as of May 18, 2000, among
AmeriCredit Financial Services, Inc., as Sponsor, AFS Funding Corp., as Seller
(the "Seller"), and Credit Suisse First Boston Corporation, as Representative of
the Underwriters (the "Representative").
4.1 Indenture, dated as of May 22, 2000, between AmeriCredit
Automobile Receivables Trust 2000-B (the "Trust") and Bank One, N.A., as Trustee
and Trust Collateral Agent.
4.2 Amended and Restated Trust Agreement, dated as of May 22, 2000,
between the Seller and Bankers Trust (Delaware), as Owner Trustee.
4.3 Sale and Servicing Agreement, dated as of May 22, 2000, among
the Trust, AmeriCredit Financial Services, Inc., as Servicer, the Seller, and
Bank One, N.A., as Backup Servicer and Trust Collateral Agent.
4.4 Financial Guaranty Insurance Policy, dated as of May 25, 2000 and
delivered by Financial Security Assurance Inc. (the "Insurer").
10.1 Purchase Agreement, dated as of May 22, 2000, among AmeriCredit
Financial Services Inc. and CP Funding Corp., as Sellers, and AFS Funding Corp.,
as Purchaser.
10.2 Indemnification Agreement, dated as of May 25, 2000, among the
Insurer, the Seller and the Representative.
23.1 Consent of PricewaterhouseCoopers LLP ("PWC") regarding
financial statement of the Trust and their report.
23.2 Report of PWC regarding financial statement the Trust.
23.3 Consent of PWC regarding financial statements of the Insurer.
99.1 Statistical information for the receivables as of the Initial
Cutoff Date.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2000-B
By: AmeriCredit Financial Services, Inc., as Sponsor
By: /s/ Preston Miller
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Name: Preston Miller
Title: Senior Vice President and
Treasurer
Dated: June 9, 2000
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EXHIBIT INDEX
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Exhibit No. Description
1.1 Underwriting Agreement, dated as of May 18, 2000, among
AmeriCredit Financial Services, Inc., as Sponsor, AFS Funding
Corp., as Seller (the "Seller"), and Credit Suisse First Boston
Corporation, as Representative of the Underwriters (the
"Representative").
4.1 Indenture, dated as of May 22, 2000, between AmeriCredit
Automobile Receivables Trust 2000-B (the "Trust") and Bank One,
N.A., as Trustee and Trust Collateral Agent.
4.2 Amended and Restated Trust Agreement, dated as of May 22, 2000,
between the Seller and Bankers Trust (Delaware), as Owner
Trustee.
4.3 Sale and Servicing Agreement, dated as of May 22, 2000, among
the Trust, AmeriCredit Financial Services, Inc., as Servicer,
the Seller, and Bank One, N.A., as Backup Servicer and Trust
Collateral Agent.
4.4 Financial Guaranty Insurance Policy, dated as of May 25, 2000
and delivered by Financial Security Assurance Inc. (the
"Insurer").
10.1 Purchase Agreement, dated as of May 22, 2000, among AmeriCredit
Financial Services Inc. and CP Funding Corp., as Sellers, and
AFS Funding Corp., as Purchaser.
10.2 Indemnification Agreement, dated as of May 25, 2000, among the
Insurer, the Seller and the Representative.
23.1 Consent of PricewaterhouseCoopers LLP ("PWC") regarding
financial statement of the Trust and their report.
23.2 Report of PWC regarding financial statement the Trust.
23.3 Consent of PWC regarding financial statements of the Insurer.
99.1 Statistical information for the receivables as of the Initial
Cutoff Date.
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