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Previous: HELLER FUNDING CORP, 8-K, 2000-06-27 |
Next: MASTERPIECE TECHNOLOGY GROUP INC, NT 10-K, 2000-06-27 |
<PAGE>
Heller Equipment Asset Receivables Trust 1999-1
--------------------------------------------------------------------------------
Heller Financial, Inc.
Monthly Report - Collections and Distribution
<TABLE>
<S> <C> <C> <C>
Collection Period May 2, 2000 to June 1, 2000
Determination Date June 10, 2000
Distribution Date June 13, 2000
</TABLE>
<TABLE>
<CAPTION>
Available Amounts
-----------------
<S> <C>
Scheduled Payments plus Payaheads, net of Excluded Amounts 8,862,860.33
Prepayment Amounts 889,668.76
Recoveries 236,646.53
Investment Earnings on Collection Account and Reserve Fund 22,667.82
Late Charges 15,515.24
Servicer Advances 1,712,237.33
Total Available Amounts 11,739,596.01
----------------------- -------------
Payments on Distribution Date
-----------------------------
Trustee Fees (only applicable pursuant to an Event of Default) 0.00
Unreimbursed Servicer Advances to the Servicer 0.00
Monthly Servicing Fee, if Heller Financial, Inc. is not the Servicer 0.00
Interest due to Class A-1 Notes 0.00
Interest due to Class A-2 Notes 121,843.87
Interest due to Class A-3 Notes 620,095.82
Interest due to Class A-4 Notes 146,800.09
Interest due to Class B Notes 39,058.69
Interest due to Class C Notes 41,335.46
Interest due to Class D Notes 29,539.11
Class A-1 Principal Payment Amount 0.00
Class A-2 Principal Payment Amount 10,215,484.78
Class A-3 Principal Payment Amount 0.00
Class A-4 Principal Payment Amount 0.00
Class B Principal Payment Amount 423,114.96
Class C Principal Payment Amount 102,323.23
Class D Principal Payment Amount 0.00
Additional Principal to Class A-2 Notes 0.00
Additional Principal to Class A-3 Notes 0.00
Additional Principal to Class A-4 Notes 0.00
Additional Principal to Class B Notes 0.00
Additional Principal to Class C Notes 0.00
Additional Principal to Class D Notes 0.00
Monthly Servicing Fee, if Heller Financial, Inc. is the Servicer 0.00
Deposit to the Reserve Fund 0.00
Excess to Certificateholder 0.00
Total distributions to Noteholders and Certificateholders 11,739,596.01
--------------------------------------------------------- -------------
</TABLE>
<PAGE>
Heller Equipment Asset Receivables Trust 1999-1
--------------------------------------------------------------------------------
Heller Financial, Inc.
Monthly Report - Schedules
<TABLE>
<CAPTION>
Trustee Fees, in Event of Default only
--------------------------------------
<S> <C>
Trustee fees due on Distribution Date 0.00
Unreimbursed Servicer Advances
------------------------------
Unreimbursed Servicer Advances 0.00
Monthly Servicing Fee Schedule, if Servicing has been transferred
-----------------------------------------------------------------
(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 213,763,812.19
(iii) Servicing Fee ( ( (i) / 12 ) x (ii) ) 0.00
(iv) Servicing Fee accrued but not paid in prior periods 0.00
Total Servicing Fee due and accrued ( (iii) + (iv) ) 0.00
Servicing Fee carried forward 0.00
Monthly Servicing Fee distributed 0.00
Class A-1 Interest Schedule
---------------------------
Opening Class A-1 principal balance 0.00
Class A-1 Interest Rate 4.94795%
Number of days in Accrual Period 29
Current Class A-1 interest due 0.00
Class A-1 interest accrued but not paid in prior periods 0.00
Total Class A-1 interest due 0.00
Class A-1 interest carried forward 0.00
Class A-1 interest distribution 0.00
Class A-2 Interest Schedule
---------------------------
Opening Class A-2 principal balance 27,797,080.58
Class A-2 Interest Rate 5.26%
Current Class A-2 interest due 121,843.87
Class A-2 interest accrued but not paid in prior periods 0.00
Total Class A-2 interest due 121,843.87
Class A-2 interest carried forward 0.00
Class A-2 interest distribution 121,843.87
Class A-3 Interest Schedule
---------------------------
Opening Class A-3 principal balance 135,293,633.00
Class A-3 Interest Rate 5.50%
Current Class A-3 interest due 620,095.82
Class A-3 interest accrued but not paid in prior periods 0.00
Total Class A-3 interest due 620,095.82
Class A-3 interest carried forward 0.00
Class A-3 interest distribution 620,095.82
Class A-4 Interest Schedule
---------------------------
Opening Class A-4 principal balance 31,345,216.00
Class A-4 Interest Rate 5.62%
Current Class A-4 interest due 146,800.09
Class A-4 interest accrued but not paid in prior periods 0.00
Total Class A-4 interest due 146,800.09
Class A-4 interest carried forward 0.00
Class A-4 interest distribution 146,800.09
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Class B Interest Schedule
-------------------------
Opening Class B principal balance 8,053,337.86
Class B Interest Rate 5.82%
Current Class B interest due 39,058.69
Class B interest accrued but not paid in prior periods 0.00
Total Class B interest due 39,058.69
Class B interest carried forward 0.00
Class B interest distribution 39,058.69
Class C Interest Schedule
-------------------------
Opening Class C principal balance 7,678,413.56
Class C Interest Rate 6.46%
Current Class C interest due 41,335.46
Class C interest accrued but not paid in prior periods 0.00
Total Class C interest due 41,335.46
Class C interest carried forward 0.00
Class C interest distribution 41,335.46
Class D Interest Schedule
-------------------------
Opening Class D principal balance 3,865,532.00
Class D Interest Rate 9.17%
Current Class D interest due 29,539.11
Class D interest accrued but not paid in prior periods 0.00
Total Class D interest due 29,539.11
Class D interest carried forward 0.00
Class D interest distribution 29,539.11
Class A-1 Principal Schedule
----------------------------
Class A-1 Maturity Date May 15, 2000
(i) Opening Class A-1 principal balance 0.00
(ii) Aggregate outstanding principal of Notes plus Overcollateralization Balance 214,033,213.00
(iii) ADCB as of last day of the Collection Period 202,532,858.24
(iv) Monthly Principal Amount ( (ii) - (iii) ) 11,500,354.76
Class A-1 Principal Payment Amount due (lesser of (i) or (iv)) 0.00
Class A-1 Principal Payment Amount distribution 0.00
Class A-1 Principal Balance after current distribution 0.00
Class A Principal Payment Amount
--------------------------------
(i) Aggregate opening Class A-2, A-3 and A-4 Outstanding Principal Amount 194,435,929.58
(ii) Class A Target Investor Principal Amount (90.9583% * ending ADCB) 184,220,444.80
Class A Principal Payment Amount 10,215,484.78
Funds available for distribution 10,215,484.78
Class A-2 Principal Schedule
----------------------------
Opening Class A-2 principal balance 27,797,080.58
Class A-2 Principal Payment Amount distribution 10,215,484.78
Class A-2 principal balance after current distribution 17,581,595.80
Class A-3 Principal Schedule
----------------------------
Opening Class A-3 principal balance 135,293,633.00
Class A-3 Principal Payment Amount distribution 0.00
Class A-3 principal balance after current distribution 135,293,633.00
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Class A-4 Principal Schedule
----------------------------
Opening Class A-4 principal balance 31,345,216.00
Class A-4 Principal Payment Amount distribution 0.00
Class A-4 principal balance after current distribution 31,345,216.00
Class B Principal Schedule
--------------------------
Opening Class B principal balance 8,053,337.86
Class B Target Investor Principal Amount (3.7674% * ending ADCB) 7,630,222.90
Class B Floor (3,325,222.73)
Class B Principal Payment Amount due 423,114.96
Class B Principal Payment Amount distribution 423,114.96
Class B principal balance after current distribution 7,630,222.90
Class C Principal Schedule
--------------------------
Opening Class C principal balance 7,678,413.56
Class C Target Investor Principal Amount (3.0139% * ending ADCB) 6,104,137.81
Class C Floor 1,376,730.90
Class C Principal Payment Amount due 1,574,275.75
Class C Principal Payment Amount distribution 102,323.23
Class C principal balance after current distribution 7,576,090.33
Class D Principal Schedule
--------------------------
Opening Class D principal balance 3,865,532.00
Class D Target Investor Principal Amount (1.5070% * ending ADCB) 3,052,170.17
Class D Floor 2,845,632.82
Class D Principal Payment Amount due 813,361.83
Class D Principal Payment Amount distribution 0.00
Class D principal balance after current distribution 3,865,532.00
Additional Principal Schedule
-----------------------------
Floors applicable (Yes/No) No
Monthly Principal Amount 11,500,354.76
Sum of Principal Payments payable on all classes 13,026,237.31
Additional Principal payable 0.00
Additional Principal available, if payable 0.00
Class A-2 Additional Principal allocation 0.00
Class A-2 principal balance after current distribution 17,581,595.80
Class A-3 Additional Principal allocation 0.00
Class A-3 principal balance after current distribution 135,293,633.00
Class A-4 Additional Principal allocation 0.00
Class A-4 principal balance after current distribution 31,345,216.00
Class B Additional Principal allocation 0.00
Class B principal balance after current distribution 7,630,222.90
Class C Additional Principal allocation 0.00
Class C principal balance after current distribution 7,576,090.33
Class D Additional Principal allocation 0.00
Class D principal balance after current distribution 3,865,532.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Monthly Servicing Fee Schedule, if Heller Financial, Inc. is the Servicer
-------------------------------------------------------------------------
<S> <C>
(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 213,763,812.19
(iii) Servicing Fee due ( ( (i) / 12 ) * (ii) ) 71,254.60
(iv) Servicing Fee accrued but not paid in prior periods 826,227.34
Total Servicing Fee due and accrued ( (iii) + (iv) ) 897,481.94
Servicing Fee carried forward 897,481.94
Monthly Servicing Fee distributed 0.00
Reserve Fund Schedule
---------------------
ADCB as of the end of the Collection Period 202,532,848.21
Required Reserve Amount (ending ADCB * 0.70%) 1,417,730.01
Prior month Reserve Fund balance 1,065,261.71
Deposit to Reserve Fund - excess funds 0.00
Interim Reserve Fund Balance 1,065,261.71
Current period draw on Reserve Fund for Reserve Interest Payments 0.00
Current period draw on Reserve Fund for Reserve Principal Payments 0.00
Excess to Certificateholder 0.00
Ending Reserve Fund balance 1,065,261.71
Reserve Fund balance as a percentage of ADCB as of the end of the Collection Period 0.53%
</TABLE>
<PAGE>
Heller Equipment Asset Receivables Trust 1999-1
--------------------------------------------------------------------------------
Heller Financial, Inc.
Monthly Report - Note Factors
<TABLE>
<S> <C>
Class A-1
---------
Class A-1 principal balance 0.00
Initial Class A-1 principal balance 130,040,761.00
Note factor 0.000000000
Class A-2
---------
Class A-2 principal balance 17,581,595.80
Initial Class A-2 principal balance 66,680,434.00
Note factor 0.263669487
Class A-3
---------
Class A-3 principal balance 135,293,633.00
Initial Class A-3 principal balance 135,293,633.00
Note factor 1.000000000
Class A-4
---------
Class A-4 principal balance 31,345,216.00
Initial Class A-4 principal balance 31,345,216.00
Note factor 1.000000000
Class B
-------
Class B principal balance 7,630,222.90
Initial Class B principal balance 9,663,831.00
Note factor 0.789565018
Class C
-------
Class C principal balance 7,576,090.33
Initial Class C principal balance 7,731,065.00
Note factor 0.979954293
Class D
-------
Class D principal balance 3,865,532.00
Initial Class D principal balance 3,865,532.00
Note factor 1.000000000
</TABLE>
<PAGE>
Heller Equipment Asset Receivables Trust 1999-1
--------------------------------------------------------------------------------
Heller Financial, Inc.
Monthly Report - Additional Schedules and Limitations
<TABLE>
<S> <C>
Cumulative Loss Amount Schedule
-------------------------------
(i) Outstanding Principal Amount of the Notes as of the preceding Distribution Date 214,033,213.00
(ii) Overcollateralization Balance as of the preceding Distribution Date (269,400.81)
(iii) Monthly Principal Amount 11,500,354.76
(iv) Available Amounts remaining after the payment of interest 10,740,922.97
(v) ADCB as of the end of the Collection Period 202,532,858.24
Cumulative Loss Amount 759,431.79
Class B Floor Calculation
-------------------------
Class B Floor percentage 1.86%
Initial ADCB 386,553,237.98
Cumulative Loss Amount for current period 759,431.79
Sum of Outstanding Principal Amount of Class C Notes, Class D Notes and Overcollateralization Balance 11,274,544.75
Class B Floor (3,325,222.73)
Class C Floor Calculation
-------------------------
Class C Floor percentage 1.09%
Initial ADCB 386,553,237.98
Cumulative Loss Amount for current period 759,431.79
Sum of Outstanding Principal Amount of Class D Notes and Overcollateralization Balance 3,596,131.19
Class C Floor 1,376,730.90
Class D Floor Calculation
-------------------------
Class D Floor percentage 0.47%
Initial ADCB 386,553,237.98
Cumulative Loss Amount for current period 759,431.79
Overcollateralization Balance (269,400.81)
Class D Floor 2,845,632.82
Heller Financial, Inc. is the Servicer (Yes/No) Yes
An Event of Default has occurred (Yes/No) No
10% Substitution Limit Calculation
----------------------------------
ADCB as of the Cut-off Date: 386,553,237.98
Cumulative DCB of Substitute Contracts replacing materially modified contracts 5,404,027.98
Percentage of Substitute Contracts replacing materially modified contracts 1.40%
Percentage of Substitute Contracts replacing modified contracts exceeds 10% (Yes/No) No
5% Skipped Payment Limit Calculation
------------------------------------
The percent of contracts with Skipped Payment modifications 0.08%
The DCB of Skipped Payment modifications exceeds 5% of the initial ADCB (Yes/No) No
Any Skipped Payments have been deferred later than January 1, 2006 No
</TABLE>
<PAGE>
Heller Equipment Asset Receivables Trust 1999-1
--------------------------------------------------------------------------------
Heller Financial, Inc.
Monthly Report - Pool Data
<TABLE>
<CAPTION>
Pool Data
---------
<S> <C>
ADCB as of the first day of the Collection Period 213,763,812.19
ADCB as of the last day of the Collection Period 202,532,858.24
DCB as of the first day of the Collection Period of Contracts that became
Defaulted Contracts 1,123,972.71
Number of Contracts that became DefaultedContracts during the period 12
Defaulted Contracts as a percentage of ADCB (annualized) 6.66%
DCB of Contracts as of the last day of the Collection Period that became Prepaid Contracts 632,131.86
Number of Prepaid Contracts as of the last day of the Collection Period 5
DCB of Contracts as of the last day of the Collection Period that were added as
Substitute Contracts 909,287.39
Number of Substitute Contracts as of the last day of the Collection Period 5
DCB of Contracts as of the last day of the Collection Period that became Warranty Contracts 0.00
Number of Warranty Contracts as of the last day of the Collection Period 0
Recoveries collected relating to Defaulted Contracts as of the last day of the Collection Period 236,646.53
Cumulative Servicer Advances paid by the Servicer 11,144,741.45
Cumulative reimbursed Servicer Advances 9,432,504.12
</TABLE>
<TABLE>
<CAPTION>
Delinquencies and Losses Dollars Percent
------------------------ ------- -------
<S> <C> <C>
Current 190,331,755.98 93.98%
31-60 days past due 8,523,222.63 4.21%
61-90 days past due 2,511,584.15 1.24%
Over 90 days past due 1,166,295.48 0.58%
----------------- ----------
Total 202,532,858.24 100.00%
31+ days past due 12,201,102.26 6.02%
</TABLE>
<TABLE>
<S> <C>
(i) Cumulative ADCB of Defaulted Contracts (cumulative gross losses to date) 4,744,514.57
(ii) Cumulative Recoveries realized on Defaulted Contracts 757,717.34
Cumulative net losses to date ( (i) - (ii) ) 3,986,797.23
Cumulative net losses as a percentage of the initial ADCB 1.03%
</TABLE>
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