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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
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[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
FOR THE FISCAL YEAR ENDED MARCH 31, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
FOR THE TRANSITION PERIOD FROM TO
Commission file number 333-72303
HONDA AUTO LEASE TRUST 1999-A
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(Exact name of registrant as specified in its charter)
DELAWARE 33-0846301
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(State of incorporation) (IRS Employer
Identification No.)
Honda Titling C L.P.
Honda Titling D L.P.
700 VAN NESS AVENUE
TORRANCE, CA 90501
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310)781-6146
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange
on which registered
None None
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Securities registered pursuant to section 12(g) of the Act:
None
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(Title of class)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
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YES X NO
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Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. /X/
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PART I
This Annual Report on Form 10-K is filed by American Honda Finance
Corporation ("AHFC") as Servicer of Honda Auto lease Trust 1999 (the "Trust")
pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934, as
amended. This Annual Report on Form 10-K responds to items/omits responses
based on exemptive relief previously granted to requests on behalf of similar
registrants.
The registrant is a trust with no voting securities oustanding.
Item 1. Business
Omitted.
Item 2. Properties
The Trust was formed pursuant to a Securitization Trust Agreement
(the "Agreement") dated as of July 1, 1999 between Honda Titling
C L.P. and Honda Titling D L.P (the "Transferors") and U.S. Bank
National Association as Owner Trustee, Wilmington Trust Company as
Delaware Owner Trustee and The Bank of New York as Indenture
Trustee. The property of the Trust consists of two certificates,
evidencing the 1999-A Special Unit of Beneficial Interest (the
"SUBI") the right to receive funds on deposit in the Reserve Fund
and certain other investments held in accounts for the benefit of
Certificateholders. The SUBI represents a beneficial interest in
SUBI Assets.
The Trust issued asset-backed certificates (the "Certificates")
representing undivided interests in the Trust. The Certificates
consist of five classes of senior certificates ("Class A-1 5.445%
Certificates", "Class A-2 5.875% Certificates", "Class A-3 6.100%
Certificates", "Class A-4 6.450% Certificates" and "Class A-5
6.650% Certificates") and two classes of subordinated certificates
("Class B 6.650% Certificates" and "Class C 6.900% Certificates").
The Class A, B and C Certificates were registered and publicly
offered and sold.
The assets of the 1999-A Honda Auto Lease Trust consist primarily
of retail closed-end lease contracts, for Honda and Acura motor
vehicles related thereto.
Item 3. Legal Proceedings
N/A
Item 4. Submission of Matters to a Vote of Security Holders
N/A
The following tables set forth the number and aggregate principal
amount of delinquent receivables, the delinquency rates, and
aggregate net losses of the Honda Auto Lease Trust 1999-A as of March
31, 2000 :
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1. Delinquent Contracts: ($000's)
Contracts Amount
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<S> <C> <C>
a. 31 - 60 Days Delinquent 1,074 $18,793
b. 61 - 90 Days Delinquent 168 $2,950
c. Over 90 Days Delinquent 121 $2,228
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<CAPTION>
2. Delinquent Ratio: % of % of
Contracts Amount
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<S> <C> <C>
a. 31 - 60 Days Delinquent 0.66% 0.66%
b. 61 - 90 Days Delinquent 0.10% 0.10%
c. Over 90 Days Delinquent 0.07% 0.08%
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<CAPTION>
3. Aggregate Net Losses: ($000's)
Contracts Amount
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<S> <C> <C>
a. Cumulative Net Losses 1,474 $3,291
b. Original Portfolio 172,598 3,300,159
c. Aggregate Loss Ratio 0.85% 0.10%
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PART II
Item 5. Market For Registrant's Common Equity and Related Stockholder Matters
All holders of records of the Class A Certificates issued by Honda
Auto Lease Trust 1999-A (except for Honda Titling C L.P. and Honda
Titling D L.P. are registered through the nominee of Cede & Co.
The Trust used the proceeds from the issuance and sale of the
securities to purchase the SUBI certificates from Honda Titling
C L.P. and Honda Titling D L.P. American Honda Finance Corporation
is servicing the Lease contracts. The Trust is relying on
collections on the Lease contracts and funds on deposit in
specified accounts to make payment on the securities.
The Trust established a reserve fund to help cover any shortfalls
in distributions of interest and principal on the notes.
Item 6. Selected Financial Data
N/A
Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations
N/A
Item 8. Financial Statements and Supplementary Data
N/A
Item 9. Changes In and Disagreements with Accountants
on Accounting and Financial Disclosure
N/A
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PART III
Item 10. Directors and Executive Officers of the Registrant
N/A
Item 11. Executive Compensation
N/A
Item 12. Security Ownership of Certain Beneficial Owners
and Management
N/A
Item 13. Certain Relationships and Related Transactions
N/A
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PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
(a) EXHIBIT NO. 99
DESCRIPTION
Annual Statement to Certificateholders pursuant to Section 10.02 of the 1999-A
Supplement to Servicing Agreement, dated as of July 1, 1999 HVT, Inc. as
Origination Trustee, Honda Titling A L.P., Honda Titling B L.P., as UTI
Beneficiaries, American Honda Finance Corporation, as Servicer, US Bank, as
Trust Agent.
(b) Reports
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<CAPTION>
Reports Date
<S> <C> <C>
Form 8K The month of Aug. 1999 (Sep.15, 1999)
The month of Sep. 1999 (Oct.15, 1999)
The month of Oct. 1999 (Nov.15, 1999)
The month of Nov. 1999 (Dec.15, 1999)
The month of Dec. 1999 (Jan.15, 2000)
The month of Jan. 2000 (Feb.15, 2000)
The month of Feb. 2000 (Mar.15, 2000)
The month of Mar. 2000 (Apr.17, 2000)
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Honda Auto Lease Trust 1999-A
By: American Honda Finance Corporation, as Servicer
(Registrant)
By:
/s/ John Weisickle
John Weisickle, Vice President/Finance
