|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previous: SNYDER COMMUNICATIONS INC, SC 13D, EX-99, 2000-09-22 |
Next: ANTIGUA FUNDING CORP, 8-K, 2000-09-22 |
<PAGE>
Securities and Exchange Commission
Washington, DC 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report: September 12, 2000
Capita Equipment Receivables Trust 1997-1
A New York Commission File I.R.S. Employer
Corporation No. 333-34793 No. 13-7135550
c/o AT&T Capital Corporation
650 Cit Drive Livingston, NJ 07039
Telephone Number (973) 535-5909
Page 2 of 10
<PAGE>
<TABLE>
<CAPTION>
Item. 5 Other
Capita Equipment Receivables Trust 1997-1
Monthly Servicing Report
Determination Date: September 12, 2000 Payment Date: September 15, 2000
Collection Period: August 31, 2000
<S> <C>
I. Information Regarding the Contracts
1. Contract Pool Principal Balance
a. Beginning of Collection Period $ 266,728,569
b. End of Collection Period $ 250,283,887
c. Reduction for Collection Period $ 16,444,682
2. Delinquent Scheduled Payments
a. Beginning of Collection Period $ 6,998,097
b. End of Collection Period $ 6,401,321
3. Liquidated Contracts
a. Number of Liquidated Contracts
with respect to Collection Period 251
b. Required Payoff Amounts of Liquidated Contracts $ 1,554,841
c. Total Reserve for Liquidation Expenses $ -
d. Total Liquidation Proceeds Received $ 276,738
e. Liquidation Proceeds Allocated to Owner Trust $ 241,562
f. Liquidation Proceeds Allocated to Depositor $ 35,176
g. Current Realized Losses $ 1,313,279
4. Prepaid Contacts
a. Number of Prepaid Contracts with respect
to Collection Period 382
b. Required Payoff Amounts of Prepaid Contracts $ 1,944,950
5. Purchased Contracts (by TCC)
a. Number of Contracts Purchased by TCC with
respect to Collection Period 0
b. Required Payoff Amounts of Purchased Contracts $ -
</TABLE>
Page 3 of 10
<PAGE>
6. Delinquency Status of Contracts (End of Collection Period)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
% of Aggregate
Number of % of Aggregate Required Required Payoff
Contracts Contracts Payoff Amounts Amounts
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Current 26,159 90.16% $ 230,698,932 89.88%
b. 31-60 days 1,344 4.63% $ 12,258,411 4.78%
c. 61-90 days 705 2.43% $ 7,232,085 2.82%
d. 91-120 days 337 1.16% $ 3,021,978 1.18%
e. 120+ days 469 1.62% $ 3,473,801 1.35%
f. Total 29,014 100.00% $ 256,685,208 100.00%
</TABLE>
7. Historical Delinquency Experience with Respect to Contracts
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
% of % of % of % of
Aggregate Aggregate Aggregate Aggregate
Required Payoff Required Payoff Required Payoff Required Payoff
Amounts Amounts Amounts Amounts
Collection
Periods 31-60 Days Past Due 61-90 Days Past Due 91-120 Days Past Due 120+ Days Past Due
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
08/31/00 4.78% 2.82% 1.18% 1.35%
07/31/00 5.09% 2.58% 1.17% 1.33%
06/30/00 5.62% 2.56% 1.09% 1.56%
05/31/00 4.63% 1.83% 1.16% 1.57%
04/30/00 4.92% 2.47% 1.45% 1.34%
03/31/00 5.20% 2.85% 1.14% 1.25%
02/29/00 6.39% 2.83% 1.32% 1.63%
01/31/00 5.70% 2.42% 1.30% 1.55%
12/31/99 5.66% 2.51% 1.39% 1.25%
11/30/99 5.55% 2.46% 1.24% 1.39%
10/31/99 5.24% 2.77% 1.17% 1.45%
09/30/99 5.19% 2.14% 1.13% 1.38%
08/31/99 4.43% 2.01% 1.19% 1.22%
07/31/99 4.53% 2.14% 1.21% 1.27%
06/30/99 5.01% 2.02% 1.19% 1.31%
05/31/99 5.77% 2.37% 1.10% 1.38%
04/30/99 5.01% 2.11% 0.86% 1.09%
03/31/99 5.41% 2.06% 0.92% 1.15%
02/28/99 5.60% 2.08% 1.15% 1.24%
01/31/99 5.46% 2.19% 0.94% 1.11%
12/31/98 5.26% 1.86% 0.90% 0.93%
11/30/98 5.07% 1.66% 0.78% 0.88%
10/31/98 3.93% 1.32% 0.66% 0.98%
09/30/98 3.98% 1.18% 0.62% 0.94%
08/31/98 3.34% 1.23% 0.53% 0.60%
07/31/98 3.28% 1.12% 0.52% 0.85%
06/30/98 2.76% 1.14% 0.58% 0.81%
05/31/98 3.63% 1.12% 0.61% 0.75%
04/30/98 3.46% 1.03% 0.63% 0.69%
03/31/98 3.30% 1.26% 0.51% 0.63%
02/28/98 6.09% 1.42% 0.59% 0.52%
01/31/98 3.34% 0.96% 0.41% 0.26%
12/31/97 3.17% 0.86% 0.36% 0.01%
11/30/97 2.89% 0.49% 0.00% 0.00%
</TABLE>
Page 4 of 10
<PAGE>
8. Historical Loss Experience With Respect to Contracts
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
Collection 3 Collection 6 Collection Periods Cumulative Since
Period Periods Ending Ending Cut-off Date
August-00 August-00 August-00
-------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Number of Liquidated Contracts 251 540 1,248 8,393
b. Number of Liquidated
Contracts as a Percentage
of Initial Contracts 0.332% 0.714% 1.650% 11.094%
c. Required Payoff Amounts of
Liquidated Contracts 1,554,841 4,832,479 9,902,929 70,676,321
d. Liquidation Proceeds Allocated
to Owner Trust 241,562 704,014 1,653,437 11,349,651
e. Aggregate Current Realized
Losses 1,313,279 4,128,465 8,249,491 59,326,670
f. Aggregate Current Realized
Losses as a Percentage of
Cut-off Date Contract Pool
Principal Balance 0.115% 0.360% 0.719% 5.173%
</TABLE>
II. Information Regarding the Securities
1. Summary of Balance Information
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
Principal Balance as of Class Factor as of
Class Coupon September 15, 2000 September 15, 2000
Rate Payment Date Payment Date
----------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
a. Class A-1 Notes 5.790000% $ 0 0.00000
b. Class A-2 Notes 6.030000% $ 0 0.00000
c. Class A-3 Notes 6.120000% $ 0 0.00000
d. Class A-4 Notes 6.190000% $138,017,206 0.52838
e. Class A-5 Notes 6.743750% $ 15,438,002 0.14703
f. Class B Notes 6.450000% $ 68,820,000 1.00000
g. Class C Notes (Quarterly Paying) 6.480000% $ 34,410,000 1.00000
h. Total N.A. $256,685,208 0.22380
<CAPTION>
----------------------------------------------------------------------------------------------
Principal Balance as of Class Factor as of
Class August 15, 2000 August 15, 2000
Payment Date Payment Date
----------------------------------------------------------------------------------------------
<S> <C> <C>
a. Class A-1 Notes $ 0 0.00000
b. Class A-2 Notes $ 0 0.00000
c. Class A-3 Notes $ 0 0.00000
d. Class A-4 Notes $153,344,248 0.58705
e. Class A-5 Notes $ 17,152,418 0.16336
f. Class B Notes $ 68,820,000 1.00000
g. Class C Notes (Quarterly Paying) $ 34,410,000 1.00000
h. Total $273,726,666 0.23866
</TABLE>
Note: Aggregate Required Payoff Amount of all contracts at the end of the
collection period is $256,685,207.78 and the CCA Balance is
$27,675,450.99.
<TABLE>
<S> <C>
2. Monthly Principal Amount
a. Principal Balance of Notes
(End of Prior Collection Period) $ 273,726,666
b. Contract Pool Principal Balance (End of Collection Period) $ 250,283,887
c. Monthly Principal Amount $ 23,442,779
3. Gross Collections
a. Scheduled Payments Received $ 15,515,193
b. Liquidation Proceeds Allocated to Owner Trust $ 241,562
c. Required Payoff Amounts of Prepaid Contracts $ 1,944,950
d. Required Payoff Amounts of Purchased Contracts $ -
e. Proceeds of Clean-up Call $ -
f. Investment Earnings on Collection, Note Distribution and Class C Funding Accounts $ 55,177
g. Extension Fees Allocated to Owner Trust $ 2,858
h. Total Gross Collections (sum of (a) through (g)) $ 17,759,740
4. Determination of Available Funds
a. Total Gross Collections $ 17,759,740
b. Withdrawal from Cash Collateral Account $ 995,619
c. Total Available Funds $ 18,755,358
5. Class A-5 Swap
a. Payment Details
1- Class A-5 Assumed Fixed Rate 6.250000%
2- Class A-5 Assumed Fixed Rate Day Count(30/360) 0.0833333
3- Class A-5 Interest Rate (Libor + .125%) 6.743750%
4- Class A-5 Interest Rate Day Count(Actual/360) 0.0861111
5- Class A-5 Principal Amount $ 17,152,418
b. Net Payment Calculation
1- Class A-5 Assumed Fixed Payment $ 89,336
2- Class A-5 Interest Payment $ 99,606
3- Net Class A-5 Swap Payment From/(To) the Trust $ (10,271)
</TABLE>
Page 5 of 10
<PAGE>
6. Application of Available Funds
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
Item Amount Remaining Available Funds
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
a. Total Available Funds 18,755,358
b. Servicing Fee 277,842 18,477,516
c. Interest on Notes:
i) Class A-1 Notes - 18,477,516
ii) Class A-2 Notes - 18,477,516
iii) Class A-3 Notes - 18,477,516
iv) Class A-4 Notes 791,001 17,686,515
v) Class A-5 Swap Net Settlement (10,271) 17,696,786
vi) Class A-5 Notes 99,606 17,597,180
vii) Class B Notes 369,908 17,227,272
viii) Class C Funding Account 185,814 17,041,458
d. Principal on Notes:
i) Class A-1 Notes - 17,041,458
ii) Class A-2 Notes - 17,041,458
iii) Class A-3 Notes - 17,041,458
iv) Class A-4 Notes 15,327,042 1,714,416
v) Class A-5 Notes 1,714,416 -
vi) Class B Notes - -
vii) Class C Funding Account - -
e. Deposit to Cash
Collateral Account - -
f. Amount to be applied in
accordance with CCA
Loan Agreement - -
g. Balance, if any, to Equity Certificates - -
</TABLE>
7. Accrued Monthly Principal and Interest Deposited into the Class C Funding
Account
<TABLE>
<S> <C>
Collection Period August-00
Beginning Balance 0
Principal Deposited 0
Interest Deposited 185,814
Total Amount Available for Distribution 185,814
Amount Distributed 0
Ending Balance 185,814
</TABLE>
8. Quarterly Application of Available funds in the Class C Funding Account
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------
Item Amount Remaining Available Funds
------------------------------------------------------------------------------------------------
<S> <C> <C>
a. Total Available Funds 185,814
b. Interest to Class C Note Holders 0 185,814
c. Principal to Class C Note Holders 0 185,814
</TABLE>
Page 6 of 10
<PAGE>
III. Information Regarding the Cash Collateral Account
<TABLE>
<CAPTION>
1. Balance Reconciliation
------------------------------------------------------------------------------------------------------------------
September 15, 2000
Item Payment Date
------------------------------------------------------------------------------------------------------------------
<S> <C>
a. Available Cash Collateral Amount (Beginning) $ 29,670,025
b. Deposits to Cash Collateral Account (II.5(f)) $ -
c. Withdrawals from Cash Collateral Account $ 995,619
d. Releases of Cash Collateral Account Surplus $ 998,956
(Excess, if any of (a) plus (b) minus (c) over (f))
e. Available Cash Collateral Amount (End) $ 27,675,451
(Sum of (a) plus (b) minus (c) minus (d))
f. Requisite Cash Collateral Amount $ 27,675,451
g. Cash Collateral Account Shortfall (Excess, if any, of (f) over (e)) $ -
2. Calculation of Requisite Cash Collateral Amount
a. For Payment Dates from, and including, the
December 1997 Payment Date to,
and including, the December 1998 Payment Date
1) Initial Cash Collateral Amount $ 83,153,171
b. For Payment Dates from, and including, the
November 1998 Payment Date until
the Final Payment Date, the sum of
1) 8.5% of the Contract Pool Principal Balance $ 21,274,130
2) The Aggregate Principal Balance of the Notes
and the Equity Certificate Balance less the
Contract Pool Principal Balance $ 6,401,321
3) Total ((1) plus (2)) $ 27,675,451
c. Floor equal to the lesser of
1) 2% of Cut-Off Date Contract Pool Principal
Balance ($22,938,806); and $ 22,938,806
2) the Aggregate Principal Balance of the Notes $256,685,208
d. Requisite Cash Collateral Amount $ 27,675,451
3. Calculation of Cash Collateral Account Withdrawals
a. Interest Shortfalls $ -
b. Principal Deficiency Amount $ 995,619
c. Principal Payable at Stated Maturity Date of
Class of Notes or Equity Certificates $ -
d. Total Cash Collateral Account Withdrawals $ 995,619
</TABLE>
Page 7 of 10
<PAGE>
IV. Information Regarding Distributions on Securities
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
Distribution Class A-1 Class A-2 Class A-3 Class A-4
Amounts Notes Notes Notes Notes
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. Interest Due $ - $ - $ - $ 791,001
2. Interest Paid $ - $ - $ - $ 791,001
3. Interest Shortfall $ - $ - $ - $ -
((1) minus (2))
4. Principal Due $ - $ - $ - $ 15,327,042
5. Principal Paid $ - $ - $ - $ 15,327,042
6. Total Distribution Amount $ - $ - $ - $ 16,118,043
((2) plus (4))
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
Distribution Class A-5 Class B Class C
Amounts Notes Notes Notes Totals
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. Interest Due $ 99,606 $ 369,908 $ - $ 1,260,514
2. Interest Paid $ 99,606 $ 369,908 $ - $ 1,260,514
3. Interest Shortfall $ - $ - $ - $ -
((1) minus (2))
4. Principal Due $ 1,714,416 $ - $ - $ 17,041,458
5. Principal Paid $ 1,714,416 $ - $ - $ 17,041,458
6. Total Distribution Amount $ 1,814,022 $ 369,908 $ - $ 18,301,972
((2) plus (4))
</TABLE>
V. Information Regarding Other Pool Characteristics
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
As of End of As of End of
Item August-00 July-00
Collection Period Collection Period
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. Original Contract Characteristics
a. Original Number of Contracts 75,651 N.A.
b. Cut-Off Date Contract Pool
Principal Balance $1,146,940,285 N.A.
c. Original Weighted Average
Remaining Term (in months) 46.6 N.A.
d. Weighted Average Original Term
(in months) 53.7 N.A.
2. Current Contract Characteristics
a. Number of Contracts 29,014 30,565
b. Average Contract Principal Balance $8,626 $8,727
c. Weighted Average Remaining Term 21.9 22.7
</TABLE>
Page 8 of 10
<PAGE>
VI. Capita Equipment Receivables Trust 1997-1 Prepayment Schedule
<TABLE>
<CAPTION>
---------------------------------------------------- ---------------------------------------------------
Payment Date Since Issue Payment Date Since Issue
Period CPR Period CPR
---------------------------------------------------- ---------------------------------------------------
<S> <C> <C> <S> <C> <C>
1 December-97 -0.436% 21 August-99 7.940%
2 January-98 5.709% 22 September-99 8.047%
3 February-98 6.693% 23 October-99 7.776%
4 March-98 6.904% 24 November-99 7.545%
5 April-98 7.280% 25 December-99 7.700%
6 May-98 7.462% 25 January-00 7.607%
7 June-98 6.903% 26 February-00 8.193%
8 July-98 7.298% 27 March-00 8.215%
9 August-98 7.115% 28 April-00 8.508%
10 September-98 7.118% 29 May-00 8.326%
11 October-98 6.694% 30 June-00 8.519%
12 November-98 6.643% 31 July-00 8.585%
13 December-98 7.065% 32 August-00 8.417%
14 January-99 7.152% 33 September-00 8.813%
15 February-99 7.261%
16 March-99 7.336%
17 April-99 7.666%
18 May-99 7.937%
19 June-99 7.515%
20 July-99 7.873%
</TABLE>
Page 9 of 10
<PAGE>
VII. Purchased, Liquidated and Paid Contracts
A computer listing of all purchased, liquidated and paid contracts has
been provided to the Indenture Trustee.
Servicer's Certificate
The undersigned, on behalf of AT&T Capital Corporation, in its capacity as
servicer (the "Servicer") under the Transfer and Servicing Agreement, dated as
of December 3, 1997 (the "Transfer and Servicing Agreement"), among Capita
Equipment Receivables Trust 1997-1, Antigua Funding Corporation, Bankers Trust
Company, as trustee under the Indenture, and AT&T Capital Corporation, in its
individual capacity and as Servicer, DO HEREBY CERTIFY that I am a Responsible
Officer of the Servicer and, pursuant to Section 3.9 of the Transfer and
Servicing Agreement, I DO HEREBY FURTHER CERTIFY the following report with
respect to the Payment Date occurring on September 15, 2000.
This Certificate shall constitute the Servicer's Certificate as required by
Section 3.9 of the Transfer and Servicing Agreement with respect to the above
Payment Date. Any term capitalized but not defined herein shall have the meaning
ascribed thereto in the Transfer and Servicing Agreement.
AT&T Capital Corporation
Glenn Votek
-----------
Glenn Votek
Executive Vice President, and Treasurer
Page 10 of 10
|
|