<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: September 18, 1999
Newcourt Funding Corporation 1999-1
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<S> <C> <C>
A New York Commission File I.R.S. Employer
Corporation No. 108-2255 No. 13-7135550
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c/o AT&T Capital Corporation
2 Gatehall Drive, Parsippany, NJ 07054
Telephone Number (973) 606-3500
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Newcourt Equipment Trust Securities 1999-1
Monthly Servicing Report
Determination Date: September 18, 1999 Payment Date: September 20, 1999
Collection Period: August 31, 1999
Item 5. Other
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<S> <C>
I. Information Regarding the Contracts
1. Contract Pool Principal Balance
a. Beginning of Collection Period $1,835,868,028
b. End of Collection Period $1,775,402,606
c. Reduction for Collection Period $ 60,465,422
2. Delinquent Scheduled Payments
a. Beginning of Collection Period $ -
b. End of Collection Period $ 16,889,899
3. Liquidated Contracts
a. Number of Liquidated Contracts
with respect to Collection Period 11
b. Required Payoff Amounts of Liquidated Contracts $ 306,240
c. Total Reserve for Liquidation Expenses $ -
d. Total Liquidation Proceeds Received (1) $ -
e. Liquidation Proceeds Allocated to Owner Trust $ -
f. Liquidation Proceeds Allocated to Depositor $ -
g. Current Realized Losses $ 306,240
4. Prepaid Contacts
a. Number of Prepaid Contracts with respect
to Collection Period 342
b. Required Payoff Amounts of Prepaid Contracts $ 9,403,062
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
6. Delinquency Status of Contracts (End of
Collection Period) $ -
</TABLE>
<TABLE>
<CAPTION>
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% of Aggregate
Number of % of Aggregate Required Required Payoff
Contracts Contracts Payoff Amounts Amounts
------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Current 81,440 94.90% $1,687,221,928 94.14%
b. 31-60 days 2,721 3.17% $ 59,908,208 3.34%
c. 61-90 days 1,418 1.65% $ 36,192,440 2.02%
d. 91-120 days 233 0.27% $ 8,810,544 0.49%
e. 120+ days 9 0.01% $ 159,385 0.01%
f. Total 85,821 100.00% $1,792,292,505 100.00%
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Page 2 of 8
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7. Historical Delinquency Experience with Respect to Contracts
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<CAPTION>
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% of % of % of % of
Aggregate Aggregate Aggregate Aggregate
Required Payoff Required Payoff Required Payoff Required Payoff
Amounts Amounts Amounts Amounts
Collection
Periods 31-60 Days Past Due 61-90 Days Past Due 91-120 Days Past Due 120+ Days Past Due
-------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
8/31/99 3.34% 2.02% 0.49% 0.01%
</TABLE>
8. Historical Loss Experience With Respect to Contracts
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<CAPTION>
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Collection 3 Collection 6 Collection Periods Cumulative Since
Period Periods Ending Ending Cut-off Date
July-99 July-99 July-99
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<S> <C> <C> <C> <C>
a. Number of Liquidated Contracts 11 11 11 11
b. Number of Liquidated
Contracts as a Percentage
of Initial Contracts 0.013% 0.004% 0.004% 0.004%
c. Required Payoff Amounts of
Liquidated Contracts 306,240 306,240 306,240 306,240
d. Liquidation Proceeds Allocated
to Owner Trust 0 0 0 0
e. Aggregate Current Realized
Losses 306,240 306,240 306,240 306,240
f. Aggregate Current Realized
Losses as a Percentage of
Cut-off Date Contract Pool
Principal Balance 0.017% 0.017% 0.017% 0.017%
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II. Information Regarding the Securities
1. Summary of Balance Information
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<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------------
Principal Balance as of Class Factor as of Principal Balance as of Class Factors as of
Class Coupon September 20, 1999 September 20, 1999 August 16, 1999 August 16, 1999
Rate Payment Date Payment Date Payment Date Payment Date
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
a. Class A-1 Notes 5.971300% $ 412,467,510 0.00000 $ 458,967,007 1.00000
b. Class A-2 Notes 6.310000% $ 183,586,801 0.89869 $ 183,586,801 1.00000
c. Class A-3 Notes 5.592500% $ 679,271,171 1.00000 $ 679,271,171 1.00000
d. Class A-4 Notes 7.180000% $ 318,523,103 1.00000 $ 318,523,103 1.00000
e. Class A-5 Notes 6.990000% $ 65,447,184 1.00000 $ 67,009,183 1.00000
f. Class B Notes 7.070000% $ 22,948,351 0.97669 $ 22,948,351 1.00000
g. Class C Notes 7.210000% $ 50,486,371 1.00000 $ 50,486,371 1.00000
h. Class D Notes 7.960000% $ 55,076,041 1.00000 $ 55,076,041 1.00000
I. Total N.A. $1,787,806,532 1.00000 $1,835,868,028 1.00000
</TABLE>
Note: Aggregate Required Payoff Amount of all contracts at the end of
the collection period is $1,787,806,532 and the CCA Balance is $100,972,742.
Page 3 of 8
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<S> <C>
2. Monthly Principal Amount
a. Principal Balance of Notes and Equity Certificates
(End of Prior Collection Period) $1,835,868,028
b. Contract Pool Principal Balance (End of
Collection Period) $1,775,402,606
c. Monthly Principal Amount $ 60,465,422
3. Gross Collections
a. Scheduled Payments Received $ 50,440,677
b. Liquidation Proceeds Allocated to Owner Trust $ -
c. Required Payoff Amounts of Prepaid Contracts $ 9,403,062
d. Required Payoff Amounts of Purchased Contracts $ -
e. Proceeds of Clean-up Call $ -
f. Investment Earnings on Collection Account and Note
Distribution Account $ 42,614
g. Total Gross Collections (sum of (a) through (f)) $ 59,886,353
4. Determination of Available Funds
a. Total Pledged Revenues $ 59,886,353
b. Withdrawal from Cash Collateral Account $ -
c. Total Available Funds $ 59,886,353
5. Class A-3 Swap
a. Payment Details
1. Class A-3 Principal Amount $ -
2. Class A-3 Assumed Fixed Rate 6.8360%
3. Class A-3 Assumed Fixed Rate Count (30/360) 0.083333333
4. Class A-3 Interest Rate (Libor + .30%) 5.59250%
5. Class A-3 Interest Rate Day Count (Actual/360) 0.086111111
b. Net Payment Calculation
1. Class A-3 Assumed Fixed Payment to Swap Provider $ 3,869,581
2. Class A-3 Interest Payment $ 3,271,210
3. Class A-3 Swap Payment From/(To) the Trust $ 598,372
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Page 4 of 8
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5. Application of Available Funds
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- ------------------------------------------------------------------------------------------
Item Amount Remaining Available Funds
- ------------------------------------------------------------------------------------------
<S> <C> <C>
a. Total Available Funds $ 59,886,353
b. Servicing Fee $ 1,529,890 $ 58,356,463
c. Interest on Notes:
i) Class A-1 Notes $ 2,359,987 $ 55,996,477
ii) Class A-2 Notes $ 965,361 $ 55,031,116
iii) Class A-3 Net Swap $ 598,372 $ 54,432,744
iv) Class A-3 Notes $ 3,271,210 $ 51,161,535
v) Class A-4 Notes $ 1,905,830 $ 49,255,705
vi) Class A-5 Notes $ 390,328 $ 48,865,376
vii) Class B Notes $ 135,204 $ 48,730,172
viii) Class C Notes $ 303,339 $ 48,426,833
ix) Class D Notes $ 365,338 $ 48,061,496
d. Principal of Notes
i) Class A-1 Notes $ 46,499,497 $ 1,561,999
ii) Class A-2 Notes $ - $ 1,561,999
iii) Class A-3 Notes $ - $ 1,561,999
iv) Class A-4 Notes $ - $ 1,561,999
v) Class A-5 Notes $ 1,561,999 $ (0)
vi) Class B Notes $ - $ (0)
vii) Class C Notes $ - $ (0)
viii) Class D Notes $ - $ (0)
e. Deposit to Cash
Collateral Account $ - $ (0)
f. Amount to be applied in
accordance with CCA $ - $ (0)
g. Loan Agreement
Balance, if any, to Equity $ - $ (0)
</TABLE>
Page 5 of 8
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III. Information Regarding the Cash Collateral Account
1. Balance Reconciliation
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- ------------------------------------------------------------------------------------------
September 20, 1999
Item Payment Date
- ------------------------------------------------------------------------------------------
<S> <C>
a. Available Cash Collateral Amount (Beginning) 100,972,742
b. Deposits to Cash Collateral Account -
c. Withdrawals from Cash Collateral Account -
d. Releases of Cash Collateral Account Surplus
(Excess, if any of (a) plus (b) minus (c) over (f)) -
e. Available Cash Collateral Amount (End)
(Sum of (a) plus (b) minus (c) minus (d)) 100,972,742
f. Requisite Cash Collateral Amount 100,972,742
g. Cash Collateral Account Shortfall
(Excess, if any, of (f) over (e)) -
2. Calculation of Requisite Cash Collateral Amount
a. For any payment date on or prior to the
August 2000 Payment Date to,
and including, the August 2000 Payment Date
1) Initial Cash Collateral Amount 100,972,742
b. For any Payment Dates after the August 2000
Payment Date until
the Final Payment Date, the sum of
1) 6.60% of the Contract Pool Principal Balance
2) The Aggregate Principal Balance of the Notes
and the Equity Certificate Balance less the
Contract Pool Principal Balance
3) Total ((1) plus (2))
c. Floor equal to the lesser of
1) 1.25% of Cut-Off Date Contract Pool Principal
Balance ($22,948,350); and
2) the Aggregate Principal Balance of the Notes
and the Equity Certificate Balance
d. Requisite Cash Collateral Amount
3. Calculation of Cash Collateral Account Withdrawals
a. Interest Shortfalls -
b. Principal Deficiency Amount -
c. Principal Payable at Stated Maturity Date of
Class of Notes or Equity Certificates -
d. Total Cash Collateral Account Withdrawals -
</TABLE>
Page 6 of 8
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IV. Information Regarding Distributions on Securities
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<CAPTION>
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Distribution Class A-1 Class A-2 Class A-3 Class A-4
Amounts Notes Notes Notes Notes
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
1. Interest Due $ 2,359,987 $ 965,361 $ 3,271,210 $ 1,905,830
2. Interest Paid $ 2,359,987 $ 965,361 $ 3,271,210 $ 1,905,830
3. Interest Shortfall
((1) minus (2)) $ - $ - $ - $ -
4. Principal Paid $ 46,499,497 $ - $ - $ -
5. Total Distribution Amount
((2) plus (4)) $ 48,859,484 $ 965,361 $ 3,271,210 $ 1,905,830
</TABLE>
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------------
Distribution Class A-5 Class B Class C Class D
Amounts Notes Notes Notes Notes Totals
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1. Interest Due $ 390,328 $ 135,204 $ 303,339 $ 365,338 $ 9,696,596
2. Interest Paid $ 390,328 $ 135,204 $ 303,339 $ 365,338 $ 9,696,596
3. Interest Shortfall
((1) minus (2)) $ - $ - $ - $ - $ -
4. Principal Paid $ 1,561,999 $ - $ - $ - $48,061,496
5. Total Distribution Amount
((2) plus (4)) $ 1,952,327 $ 135,204 $ 303,339 $ 365,338 $57,758,091
</TABLE>
V. Information Regarding Other Pool Characteristics
<TABLE>
<CAPTION>
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As of End of As of End of
Item August-99 July-99
Collection Period Collection Period
- -------------------------------------------------------------------------------------------------------
<S> <C> <C>
1. Original Contract Characteristics
a. Original Number of Contracts 86,204 N.A.
b. Cut-Off Date Contract Pool
Principal Balance $1,835,868,028 N.A.
c. Original Weighted Average
Remaining Term 47.00 N.A.
d. Weighted Average
Original Term 55.00 N.A.
2. Current Contract Characteristics
a. Number of Contracts 85,821 86,204
b. Average Contract
Principal Balance $20,687 $21,297
c. Weighted Average
Remaining Term 46.1 47.0
</TABLE>
VI. Newcourt Equipment Trust Securities 1999-1 Prepayment Schedule
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<CAPTION>
- --------------------------------------------------------
Payment Date Since Issue
Period CPR
- --------------------------------------------------------
<S> <C>
0 August-99
1 September-99 13.328%
</TABLE>
VII. Purchased, Liquidated and Paid Contracts
A computer listing of all purchased, liquidated and paid
contracts has been provided to the Indenture Trustee.
Page 7 of 8
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Servicer's Certificate
The undersigned, on behalf of AT&T Capital
Corporation, in its capacity as servicer (the
"Servicer") under the Pooling and Servicing
Agreement, dated as of August 1, 1999 (the
"Pooling and Servicing Agreement"), among
Newcourt Equipment Trust Securities 1999-1,
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 9.02 of the Pooling and
Servicing Agreement, I DO HEREBY FURTHER
CERTIFY the following report with respect to the
Payment Date occurring on September 20, 1999
This Certificate shall constitute the Servicer's
Certificate as required by Section 9.02 of the
Pooling 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 Pooling and Servicing
Agreement.
AT&T Capital Corporation
Michel Beland
Michel Beland
Senior Vice President, Financial Reporting
Page 8 of 8
