<PAGE>
<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: June 9, 1997
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
A New York Commission File I.R.S. Employer
Corporation No. 333-08645 No. 13-7097632
c/o AT&T Capital Corporation
44 Whippany Road, Morristown, New Jersey 07962-1983
Telephone Number (201) 397-3000
<PAGE>
<PAGE>
Item 5. Other Events
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
<TABLE>
<S> <C> <C>
I. INFORMATION REGARDING THE CONTRACTS
1. CONTRACT POOL PRINCIPAL BALANCE
a. Beginning of Collection Period $2,312,562,720.67
b. End of Collection Period $2,214,221,974.07
c. Reduction for Collection Period $ 98,340,746.60
2. DELINQUENT SCHEDULED PAYMENTS
a. Beginning of Collection Period $ 36,234,229.89
b. End of Collection Period $ 37,000,204.48
3. LIQUIDATED CONTRACTS
a. Number of Liquidated Contracts with respect to Collection Period 701
b. Required Payoff Amounts of Liquidated Contracts $ 4,551,254.25
c. Total Reserve for Liquidation Expenses $ 0.00
d. Total Liquidation Proceeds Received(1) $ 624,896.75
e. Liquidation Proceeds Allocated to Owner Trust $ 539,628.23
f. Liquidation Proceeds Allocated to Depositor $ 85,268.52
g. Current Realized Losses $ 4,011,626.02
4. PREPAID CONTRACTS
a. Number of Prepaid Contracts with respect to Collection Period 1,324
b. Required Payoff Amounts of Prepaid Contracts $ 10,764,939.58
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 $ 0.00
(1) Net of any addition to reserve for liquidation expenses.
</TABLE>
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 212,581 93.93% 2,132,740,023.62 94.74%
b. 31-60 days 7,661 3.38% 68,995,772.13 3.06%
c. 61-90 days 2,735 1.21% 22,262,141.58 0.99%
d. 91-120 days 1,506 0.67% 13,017,168.88 0.58%
e. 120+ days 1,844 0.81% 14,207,072.34 0.63%
f. Total 226,327 100.00% $2,251,222,178.55 100.00%
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
7. HISTORICAL DELINQUENCY EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------------
% of % of % of % of
Aggregate Required Aggregate Required Aggregate Required Aggregate Required
Payoff Amounts Payoff Amounts Payoff Amounts Payoff Amounts
Collection 31-60 Days 61-90 Days 91-120 Days 120+ Days
Periods Past Due Past Due Past Due Past Due
- --------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
05/31/97 3.06% 0.99% 0.58% 0.63%
04/30/97 2.99% 1.08% 0.47% 0.64%
03/31/97 3.73% 0.96% 0.46% 0.61%
02/28/97 3.70% 0.97% 0.55% 0.55%
01/31/97 3.27% 0.97% 0.49% 0.40%
12/31/96 4.10% 0.96% 0.39% 0.20%
11/30/96 3.49% 0.83% 0.34% 0.00%
10/31/96 2.90% 0.64% 0.01% 0.01%
</TABLE>
8. HISTORICAL LOSS EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
--------------- --------------- -------------------------------
3 COLLECTION 6 COLLECTION
May-97 PERIODS PERIODS CUMULATIVE
COLLECTION ENDING ENDING SINCE
PERIOD May-97 May-97 CUT-OFF DATE
--------------- --------------- --------------- ----------------
<S> <C> <C> <C> <C>
a. Number of Liquidated Contacts 701 2,682 4,107 4,308
b. Number of Liquidated 0.250% 0.956% 1.463% 1.535%
Contracts as a Percentage
of Initial Contracts
c. Required Payoff Amounts of $4,551,254.25 $18,462,247.35 $25,857,353.77 $26,798,242.75
Liquidated Contracts
d. Liquidation Proceeds Allocated $539,628.23 $ 1,819,624.73 $1,944,518.22 $ 1,958,027.75
to Owner Trust
e. Aggregate Current Realized $4,011,626.02 $16,642,622.62 $23,912,835.55 $24,840,215.00
Losses
f. Aggregate Current Realized 0.126% 0.522% 0.751% 0.780%
Losses as a Percentage of
Cut-off Date Contract Pool
Principal Balance
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
II. INFORMATION REGARDING THE SECURITIES
1. SUMMARY OF BALANCE INFORMATION
<TABLE>
<CAPTION>
- ------------------ ------------ ------------------- ----------------- -------------------- -----------------
Principal Balance Class Factor as Principal Balance Class Factor as
Coupon as of June 16, 1997 of June 16, 1997 as of May 15, 1997 of May 15, 1997
Class Rate Payment Date Payment Date Payment Date Payment Date
- ------------------ ------------ ------------------ ----------------- --------------------- -----------------
<S> <C> <C> <C> <C> <C>
a. Class A-1 Notes 5.60% $ 212,475,014.01 0.18886668 $ 307,018,499.55 0.27290533
b. Class A-2 Notes 5.95% $ 695,000,000.00 1.00000000 $ 695,000,000.00 1.00000000
c. Class A-3 Notes 6.11% $ 659,000,000.00 1.00000000 $ 659,000,000.00 1.00000000
d. Class A-4 Notes 6.28% $ 400,220,000.00 1.00000000 $ 400,220,000.00 1.00000000
e. Class B Notes 6.57% $ 178,500,000.00 1.00000000 $ 178,500,000.00 1.00000000
f. Equity Certificates 6.75% $ 106,027,164.54 0.83152476 $ 108,252,855.60 0.84897989
g. Total N.A. $2,251,222,178.55 0.70676926 $2,347,991,355.16 0.73714986
</TABLE>
Note: Aggregate Required Payoff Amount of all contracts at the end of the
collection period is $2,251,222,178.55 and the CCA balance
is $206,436,990.18.
<TABLE>
<S> <C>
2. MONTHLY PRINCIPAL AMOUNT
a. Principal Balance of Notes and Equity Certificates
(End of Collection Period) $2,347,991,355.16
b. Contract Pool Principal Balance (End of Collection Period) $2,214,221,974.07
c. Monthly Principal Amount $ 133,769,381.09
3. GROSS COLLECTIONS
a. Scheduled Payments Received $ 98,803,396.66
b. Liquidation Proceeds Allocated to Owner Trust $ 539,628.23
c. Required Payoff Amounts of Prepaid Contracts $ 10,764,939.58
d. Required Payoff Amounts of Purchased Contracts $ 0.00
e. Proceeds of Clean-up Call $ 0.00
f. Investment Earnings on Collection Account and Note
Distribution Account $ 364,922.88
g. Extension Fees Allocated to Owner Trust $ 17,096.41
h. Total Gross Collections (sum of (a) through (g)) $ 110,489,983.76
4. DETERMINATION OF AVAILABLE FUNDS
a. Total Gross Collections $ 110,489,983.76
b. Withdrawal from Cash Collateral Account $ 603,009.82
c. Total Available Funds $ 111,092,993.58
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
5. APPLICATION OF AVAILABLE FUNDS
<TABLE>
<CAPTION>
--------------------------------- ------------------------- ---------------------------------
ITEM AMOUNT REMAINING AVAILABLE FUNDS
--------------------------------- ------------------------- ---------------------------------
<S> <C> <C>
a. Total Available Funds $111,092,993.58
b. Servicing Fee $2,408,919.50 108,684,074.08
c. Interest on Notes:
i) Class A-1 Notes 1,432,753.00 107,251,321.09
ii) Class A-2 Notes 3,446,041.67 103,805,279.42
iii) Class A-3 Notes 3,355,408.33 100,449,871.09
iv) Class A-4 Notes 2,094,484.67 98,355,386.42
v) Class B Notes 977,287.50 97,378,098.92
d. Interest on Equity 608,922.31 96,769,176.61
Certificates
e. Principal of Notes and
Equity Certificates:
i) Class A-1 Notes 94,543,485.54 2,225,691.06
ii) Class A-2 Notes 0.00 2,225,691.06
iii) Class A-3 Notes 0.00 2,225,691.06
iv) Class A-4 Notes 0.00 2,225,691.06
v) Class B Notes 0.00 2,225,691.06
vi) Equity Certificates 2,225,691.06 0.00
f. Deposit to Cash 0.00 0.00
Collateral Account
g. Amount to be applied in 0.00 0.00
accordance with CCA
Loan Agreement
h. Balance, if any, to Equity 0.00 0.00
Certificates
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
III. INFORMATION REGARDING THE CASH COLLATERAL ACCOUNT
1. BALANCE RECONCILIATION
<TABLE>
<CAPTION>
------------------------------------------------- ------------------------
June 1997
ITEM PAYMENT DATE
------------------------------------------------- ------------------------
<S> <C>
a. Available Cash Collateral Amount (Beginning) $ 207,040,000
b. Deposits to Cash Collateral Account 0.00
c. Withdrawals from Cash Collateral Account $ 603,009.82
d. Releases of Cash Collateral Account Surplus
(Excess, if any of (a) plus (b) minus (c) over (f)) 0.00
e. Available Cash Collateral Amount (End)
(Sum of (a) plus (b) minus (c) minus (d)) $206,436,990.18
f. Requisite Cash Collateral Amount $207,040,000.00
g. Cash Collateral Account Shortfall
(Excess, if any, of (f) over (e)) $ 603,009.82
2. CALCULATION OF REQUISITE CASH COLLATERAL AMOUNT
a. For Payment Dates from, and including, the
November 1996 Payment Date
to, and including, the October 1997
Payment Date
1) Initial Cash Collateral Amount $ 207,040,000
b. For Payment Dates from, and including, the
November 1997 Payment Date
until the Final Payment Date, the sum of
1) 8% of the Contract Pool Principal Balance 0.00
2) The Aggregate Principal Balance of the Notes
and the Equity Certificate Balance less the
Contract Pool Principal Balance 0.00
3) Total 0.00
c. Floor equal to the lesser of
1) 2% of Cut-Off Date Contract Pool Principal
Balance ($63,704,600); and
2) the Aggregate Principal Balance of the Notes
and the Equity Certificate Balance $ 63,704,600
d. Requisite Cash Collateral Amount $ 207,040,000
3. CALCULATION OF CASH COLLATERAL ACCOUNT WITHDRAWALS
a. Interest Shortfalls 0.00
b. Principal Deficiency Amount $ 603,009.82
c. Principal Payable at Stated Maturity Date of
Class of Notes or Equity Certificates 0.00
d. Total Cash Collateral Account Withdrawals $ 603,009.82
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
IV. INFORMATION REGARDING DISTRIBUTIONS ON SECURITIES
<TABLE>
<CAPTION>
- ------------------- --------------- -------------- --------------- ------------- ---------------- ------------
Distribution Class A-1 Class A-2 Class A-3 Class A-4 Class B Equity
Amounts Notes Notes Notes Notes Notes Certificates
- ------------------- --------------- -------------- --------------- ------------- ---------------- ------------
<S> <C> <C> <C> <C> <C> <C>
1. Interest Due $ 1,432,753.00 $3,446,041.67 $3,355,408.33 $2,094,484.67 $977,287.50 $608,922.31
2. Interest Paid $ 1,432,753.00 $3,446,041.67 $3,355,408.33 $2,094,484.67 $977,287.50 $608,922.31
3. Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
((1) minus (2))
4. Principal Paid $94,543,485.54 $0.00 $0.00 $0.00 $0.00 $2,225,691.06
5. Total Distribution $95,976,238.54 $3,446,041.67 $3,355,408.33 $2,094,484.67 $977,287.50 $2,834,613.37
Amount
((2) plus (4))
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
V. INFORMATION REGARDING OTHER POOL CHARACTERISTICS
<TABLE>
<CAPTION>
- ---------------------------------- ------------------------ --------------------
AS OF END AS OF END
OF MAY 97 OF APRIL 97
COLLECTION COLLECTION
ITEM PER PERIOD
- ---------------------------------- ------------------------ --------------------
<S> <C> <C>
1. ORIGINAL CONTRACT CHARACTERISTICS
a. Original Number of Contracts 280,634
b. Cut-Off Date Contract Pool Principal $3,185,229,329
Balance
c. Original Weighted Average Remaining 38.6 months
Term
d. Weighted Average Original Term 56.1 months
2 CURRENT CONTRACT CHARACTERISTICS
a. Number of Contracts 226,327 233,495
b. Average Contract $ 9,783.29 $9,904.12
Principal Balance
c. Weighted Average Remaining Term 33.8 months 34.3 months
</TABLE>
<PAGE>
<PAGE>
CAPITA EQUIPMENT RECEIVABLES TRUST 1996-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: 06/09/97 PAYMENT DATE: 06/16/97
COLLECTION PERIOD: 05/31/97
VI. Capita Equpiment Receivables Trust 1996-1 Prepayment Speeds
<TABLE>
<CAPTION>
Since Issue
Period CPR
- ------------------------ -------------
<S> <C> <C>
0 Oct-96
1 Nov-96 10.866%
2 Dec-96 7.964%
3 Jan-97 8.606%
4 Feb-97 8.254%
5 Mar-97 7.615%
6 April-97 7.211%
7 May-97 8.268%
8 June-97 7.752%
</TABLE>
<PAGE>
<PAGE>
Servicer 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 October 1, 1996 (the "Transfer and Servicing Agreement"), among Capita
Equipment Receivables Trust 1996-1, Antigua Funding Corporation, The Chase
Manhattan Bank, 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 June 16, 1997.
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.
Glenn A. Votek
- ------------------------------
By: Glenn A. Votek
Vice President and Treasurer
<PAGE>
<PAGE>
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 thereunto duly authorized.
AT&T CAPITAL CORPORATION
Glenn A. Votek
------------------------------
By: Glenn A. Votek
Vice President and Treasurer
June 16, 1997
