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<PAGE>
UNITED STATES
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): December 18, 1997
Newcourt Receivables Asset Trust 1997-1
(Issuer with respect to the Securities)
Newcourt Receivables Corporation II
(Depositor of the Trust)
(Exact name of registrant as specified in its charter)
Delaware 333-36059 35-2010710
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
2700 Bank One Tower
111 Monument Circle
Indianapolis, Indiana 46204
(Address of principal executive offices) (Zip Code)
(317) 229-3406
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
<PAGE>
Item 5. Other Events
The registrant is filing final forms of the exhibit listed in Item
7(c).
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements: None
(b) Pro Forma Financial Information: None
(c) Exhibits:
Exhibit No. Document
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20 Monthly Servicer Certificate
<PAGE>
SIGNATURE
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.
NEWCOURT RECEIVABLES CORPORATION II
By: /s/ Daniel A. Jauernig
-------------------------------------
Daniel A. Jauernig
Vice President and
Chief Financial Officer
December 18, 1997
<PAGE>
EXHIBIT INDEX
Exhibit No. Document
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20 Monthly Servicer Certificate
<PAGE>
Newcourt
Financial
CERTIFICATE OF SERVICING OFFICER
The undersigned, not in his/her individual capacity but as an officer
of Newcourt Financial USA Inc. (the "Servicer"), hereby certifies on behalf of
the Servicer that the Monthly Report attached hereto is accurate and no Servicer
Default or event that with notice or lapse of time or both would become a
Servicer Default has occurred. Capitalized terms used but not defined herein are
defined in the Sale and Servicing Agreement, dated as of November 1, 1997, among
the Servicer, Newcourt Receivables Corporation II, Newcourt Receivables Asset
Trust 1997-1 and Manufacturers and Traders Trust Company, as Indenture Trustee.
IN WITNESS WHEREOF. the undersigned has executed this Certificate as of
the 18th day of December, 1997.
NEWCOURT FINANCIAL USA INC., as Servicer
By: /s/ Daniel A. Jauernig
----------------------------------
Name: Daniel A. Jauernig
Title: Treasurer
<PAGE>
Newcourt Receivables Asset Trust 1997-1 Page 1
Waterfall Distributions
<TABLE>
<CAPTION>
Collections
Account
<S> <C>
Cash Collections 14,692,145.44
Interest Earned on Collections Account 2,877.22
Interest Earned on Reserve Account 3,256.04
Recoveries on Defaulted Contracts 0.00
Servicer Advances (net of collections to reimburse prior Servicer Advances) 0.00
Available Amount 4,698,278.70
Allocations
(A) Unreimbursed Servicer Advances 0.00
(B) Servicing Fee 267,529.44
(C) A-1 Interest 533,685.94
(D) A-2 Interest 444,366.40
(E) A-3 Interest 544,868.30
(F) A-4 Interest 862,921.79
(G) B Interest 98,629.19
(H) C Interest 58,499.77
(I) D Interest 123,197.30
(J) A-1 Principal Payment Amount 11,764,580.57
(K) A-2 Principal Payment Amount 0.00
(L) A-3 Principal Payment Amount 0.00
(M) A-4 Principal Payment Amount 0.00
(N) B Principal Payment Amount 0.00
(O) C Principal Payment Amount 0.00
(P) D Principal Payment Amount 0.00
(Q) Reserve Fund Deposit 0.00
(R) Excess to Certificateholders 0.00
</TABLE>
<PAGE>
Newcourt Receivables Asset Trust 1997-1 Page 2
Servicing & Interest Calculations
<TABLE>
<S> <C>
Servicing Fee Due
(a) ADCB 535,058,884.00
(b) Servicing Fee Rate 0.600%
(c) 30 30
(d) 360 360
(e) Current Servicing Due 267,529.44
(f) Prior Month's Arrearage 0.00
(g) Total Servicing Due 267,529.44
A-1 Interest
(a) A-1 Rate 5.815%
(b) Days in Period 26
(c) 360 360
(d) Beginning A-1 Balance 127,076,485.00
(e) Current Interest Due (a*d*b/c) 533,685.94
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 533,685.94
A-2 Interest
(a) A-2 Rate 6.040%
(b) 30 30
(e) 360 360
(d) Beginning A-2 Balance 88,284,716.00
(e) Current Interest Due 444,366.40
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 444,366.40
A-3 Interest
(a) A-3 Rate 6.110%
(b) 30 30
(c) 360 360
(d) Beginning A-3 Balance 107,011,777.00
(e) Current Interest Due (a*d*b/c) 544,868.30
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 544,868.30
A-4 Interest
(a) A-4 Rate 6.193%
(b) 30 30
(c) 360 360
(d) Beginning A-4 Balance 167,205,901.00
(e) Current Interest Due (a*d*b/c) 862,921.79
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 862,921.79
B Interest
(a) B Rate 6.320%
(b) 30 30
(c) 360 360
(d) Beginning B Balance 18,727,061.00
(e) Current Interest Due (a*d*b/c) 98,629.19
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 98,629.19
C Interest
(a) C Rate 6.560%
(b) 30 30
(c) 360 360
(d) Beginning C Balance 10,701,178.00
(e) Current Interest Due (a*d*b/c) 58,499.77
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 58,499.77
D Interest
(a) D Rate 9.210%
(b) 3 0 30
(c) 360 360
(d) Beginning D Balance 16,051,766.00
(e) Current Interest Due (a*d*b/c) 123,197.30
(f) Prior Month's Arrearage 0.00
(g) Total Interest Due 123,197.30
</TABLE>
<PAGE>
Newcourt Receivables Asset Trust 1997-1 Page 3
Principal Calculations
<TABLE>
<S> <C>
Class A-1 Principal Amount
(a) Prior Month's Balance 127,076,485.00
(b) Amount Due 127,076,485.00
(c) Amount Paid 11,764,580.57
(d) Current Month's Ending Balance 115,311,904.43
Class A-2 Principal Amount
(a) Prior Month's Balance 88,284,716.00
(b) Beginning Principal All
Class A Notes 362,502,394.00
(c) Class A Percentage 88.85246%
(d) ADCB 523,421,355.63
(e) Amount Due 0.00
(f) Amount Paid 0.00
(g) Current Month's Ending Balance 88,284,716.00
Class A-3 Principal Amount
(a) Prior Month's Balance 107,011,777.00
(b) Beginning Principal All
Class A Notes 362,502,394.00
(c) Class A Percentage 88.85246%
(d) ADCB 523,421,355.63%
(e) Amount Due 0.00
(f) Amount Paid 0.00
(g) Current Month's Ending Balance 107,011,777.00
Class A-4 Principal Amount
(a) Prior Month's Balance 167,205,901.00
(b) Beginning Principal All
Class A Notes 362,502,394.00
(c) Class A Percentage 88.85246%
(d) ADCB 523,421,355.63
(e) Amount Due 0.00
(f) Amount Paid 0.00
(g) Current Month's Ending Balance 167,205,901.00
Class B Principal Amount
(a) Prior Month's Balance 18,727,061.00
(b) Beginning Principal All
Class B Notes 18,727,061.00
(c) Class B Percentage 4.59016%
(d) ADCB 523,421,355.63
(e) Amount Due 0.00
(f) Amount Paid 0.00
(g) Current Month's Ending Balance 18,727,061.00
Class C Principal Amount
(a) Prior Month's Balance 10,701,178.00
(b) Beginning Principal All
Class C Notes 10,701,178.00
(c) Class C Percentage 2.62295%
(d) ADCB 523,421,355.63
(e) Amount Due 0.00
(f) Amount Paid 0.00
(g) Current Month's Ending Balance 10,701,178.00
Class D Principal Amount
(a) Prior Month's Balance 16,051,766.00
(b) Beginning Principal All
Class D Notes 16,051,766.00
(c) Class D Percentage 3.93443%
(d) ADCB 523,421,355.63
(e) Amount Due 0.00
(f) Amount Paid 0.00
(g) Current Month's Ending Balance 16,051,766.00
</TABLE>
<PAGE>
Newcourt Receivables Asset Trust 1997-1 Page 4
Restricting Event Calculations
Restricting Events
<TABLE>
<CAPTION>
a) Over 60 Days
Past Due ADCB
<S> <C> <C>
Two Months Prior 0.00 0.00
Prior Month 0.00 535,058,884.00
Current Period 1,757,890.73 523,421,355.63
Total 1,757,890.73
Delinquency Ratio 0.50%
Trigger Level 3.00%
Restricting Event? (Yes / No) NO
</TABLE>
<TABLE>
<CAPTION>
b) Defaulted
Contracts Recoveries ADCB
<S> <C> <C> <C>
Five Months Prior 0.00 0.00 NA
Four Months Prior 0.00 0.00 NA
Three Months Prior 0.00 0.00 NA
Two Months Prior 0.00 0.00 NA
Prior Month 0.00 0.00 535,058,884.00
Current Period 0.00 0.00 523,421,355.63
Total 0.00 0.00
</TABLE>
<TABLE>
<S> <C>
2 times Defaults-Recoveries / Average ADCB 0.00%
Trigger Level 3.00%
Restricting Event? (Yes / No) No
(c) A Notes Outstanding
(A) Reserve Fund Balance 8,025,883.00
(B) Difference between ADCB and Class A Notes 33,842,476.63
(C) (A + B) 41,868,359.63
Target Subordination 10,701,177.67
Restricting Event? (Yes / No) No
A Notes Retired
(A) Reserve Fund Balance 8,025,883.00
(B) Reserve Fund Amount 8,025,883.00
Restricting Event? (Yes / No) No
d) Has a Servicer Default or Event of
Default occurred and is continuing? No
Restricting Event? (Yes / No) No
</TABLE>
<PAGE>
Newcourt Receivables Asset Trust 1997-1 Page 5
Reserve Fund Calculations
Reserve Fund
<TABLE>
<S> <C>
Beginning Balance 8,025,883.00
Required Balance 8,025,883.00
Deposit / (Withdrawal) 0.00
Ending Balance 8,025,883.00
</TABLE>
<PAGE>
Newcourt Receivables Asset Trust 1997-1 Page 6
Bond Principal Factors
<TABLE>
<S> <C>
A-1 90.7421262%
A-2 100.0000000%
A-3 100.0000000%
A-4 100.0000000%
B 100.0000000%
C 100.0000000%
D 100.0000000%
</TABLE>
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