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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): October 1, 1999
IKON RECEIVABLES, LLC
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(Exact name of registrant as specified in its charter)
DELAWARE 333-71073 23-2990188
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(State or other (Commission file number) (I.R.S. employer
jurisdiction of identification no.)
incorporation)
1738 Bass Road, P.O. Box 9115, Macon, Georgia 31208
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: 912-471-2300
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(Former name or former address, if changed since last report)
Exhibit Index located on page 4.
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Items 1 through 6 and Item 8 are not included because they are not applicable.
Item 5. Other Events.
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The consolidated financial statements of Ambac Assurance Corporation
("Ambac") and subsidiaries as of December 31, 1998 and December 31, 1997, and
for each of the years in the three-year period ended December 31, 1998, which
report appears in the Form 10-K of Ambac Financial Group, Inc. (which was filed
with the Securities and Exchange Commission on March 30, 1999) and the unaudited
consolidated financial statements of Ambac and subsidiaries as of June 30, 1999,
and June 30, 1998, included in the Quarterly Report on Form 10-Q of Ambac
Financial Group, Inc. for the period ended June 30, 1999 (which was filed with
the Securities and Exchange Commission on August 13, 1999) are hereby
incorporated by reference in (i) this Current Report on Form 8-K; (ii) the
registration statement (No. 333-71073) of the Registrant (the "Prospectus"); and
(iii) the Prospectus Supplement for $707,750,000 principal amount of the
Registrant's Lease-Backed Notes, Series 1999-2, and shall be deemed to be a part
hereof.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibits.
23. Consent of KPMG LLP, independent auditors of Ambac and
subsidiaries with respect to (a) the incorporation by reference in the
Prospectus and Prospectus Supplement of their report dated January 27, 1999 on
the audit of the consolidated financial statements of Ambac and subsidiaries as
of December 31, 1998 and December 31, 1997 and for each of the years in the
three-year period ended December 31, 1998 and (b) with respect to the reference
to their firm under the caption "Experts" in the Prospectus Supplement.
2
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SIGNATURES
Pursuant to the requirement 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.
IKON RECEIVABLES, LLC
By: IKON RECEIVABLES FUNDING, INC.
its manager
By: /s/ Thomas Sheehan
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Name: Thomas Sheehan
Title: Treasurer
Dated: September 30, 1999
3
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EXHIBIT INDEX
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Exhibit No. Description Page No.
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23.1 Independent Auditors' Consent (as 5
defined in Item 7 above).
4
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Exhibit 23
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration
statement (No. 333-71073) of IKON Receivables, LLC, Inc. (the "Registrant") and
in the Prospectus Supplement of the Registrant (the "Prospectus Supplement") via
the Form 8-K of the Registrant dated September 29, 1999, of our report dated
January 27, 1999 on the consolidated financial statements of Ambac Assurance
Corporation and subsidiaries as of December 31, 1998 and December 31, 1997, and
for each of the years in the three-year period ended December 31, 1998, which
report appears in the Form 10-K of Ambac Financial Group, Inc., which was filed
with the Securities and Exchange Commission on March 30, 1999 and to the
reference to our firm under the heading "Experts" in the Prospectus Supplement.
/s/ KPMG LLP
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KPMG LLP
New York, New York
September 29, 1999
