<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: November 18, 1999
Newcourt Funding Corporation 1999-1
A New York Commission File I.R.S. Employer
Corporation No. 108-2255 No. 13-7135550
c/o AT&T Capital Corporation
2 Gatehall Drive, Parsippany, NJ 07054
Telephone Number (973) 606-3500
Page 2 of 10
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Newcourt Equipment Trust Securities 1999-1
Monthly Servicing Report
Determination Date: November 18, 1999 Payment Date: November 22, 1999
Collection Period: October 31, 1999
<TABLE>
<CAPTION>
Item 5. Other
I. Information Regarding the Contracts
<S> <C>
1. Contract Pool Principal Balance
a. Beginning of Collection Period $ 1,730,082,245
b. End of Collection Period $ 1,673,524,708
c. Reduction for Collection Period $ 56,557,537
2. Delinquent Scheduled Payments
a. Beginning of Collection Period $ 17,317,521
b. End of Collection Period $ 21,674,360
3. Liquidated Contracts
a. Number of Liquidated Contracts 35
with respect to Collection Period --
b. Required Payoff Amounts of Liquidated Contracts $ 695,120
c. Total Reserve for Liquidation Expenses $ -
d. Total Liquidation Proceeds Received (1) $ 984
e. Liquidation Proceeds Allocated to Owner Trust $ 1,020
f. Liquidation Proceeds Allocated to Depositor $ (36)
g. Current Realized Losses $ 694,100
4. Prepaid Contacts
a. Number of Prepaid Contracts with respect 364
to Collection Period ---
b. Required Payoff Amounts of Prepaid Contracts $ 17,407,109
5. Purchased Contracts (by TCC)
a. Number of Contracts Purchased by TCC with 7
respect to Collection Period -
b. Required Payoff Amounts of Purchased Contracts $ 180,939
6. Delinquency Status of Contracts (End of Collection Period)
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------
% of Aggregate
Number of % of Aggregate Required Required Payoff
Contracts Contracts Payoff Amounts Amounts
-----------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Current 78,287 92.25% $ 1,580,373,773 93.23%
b. 31-60 days 3,818 4.50% $ 62,794,329 3.70%
c. 61-90 days 1,267 1.49% $ 20,744,970 1.22%
d. 91-120 days 747 0.88% $ 13,430,926 0.79%
e. 120+ days 741 0.87% $ 17,855,069 1.05%
f. Total 84,860 100.00% $ 1,695,199,067 100.00%
</TABLE>
Page 3 of 10
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<TABLE>
<CAPTION>
7. Historical Delinquency Experience with Respect to Contracts
- ------------------------------------------------------------------------------------------------------------
% 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>
10/31/99 3.70% 1.22% 0.79% 1.05%
09/30/99 3.65% 1.06% 0.98% 0.35%
08/31/99 3.34% 2.02% 0.49% 0.01%
</TABLE>
<TABLE>
<CAPTION>
8. Historical Loss Experience With Respect to Contracts
---------------------------------------------------------------------------
Collection 3 Collection 6 Collection Periods Cumulative Since
Period Periods Ending Ending Cut-off Date
October-99 October-99 October-99
---------------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Number of Liquidated Contracts 35 87 87 87
b. Number of Liquidated
Contracts as a Percentage 0.041% 0.031% 0.031% 0.031%
of Initial Contracts
c. Required Payoff Amounts of
Liquidated Contracts 695,120 1,807,400 1,807,400 1,807,400
d. Liquidation Proceeds Allocated
to Owner Trust 1,020 7,733 7,733 7,733
e. Aggregate Current Realized
Losses 694,100 1,799,667 1,799,667 1,799,667
f. Aggregate Current Realized
Losses as a Percentage of 0.038% 0.098% 0.098% 0.098%
Cut-off Date Contract Pool
Principal Balance
</TABLE>
<TABLE>
<CAPTION>
II. Information Regarding the Securities
1. Summary of Balance Information
-----------------------------------------------------------------------------------------------------------------------------
Principal Balance as of Class Factor as of Principal Balance as of Class Factors as of
Class Coupon November 22, 1999 November 22, 1999 October 20, 1999 October 20, 1999
Rate Payment Date Payment Date Payment Date Payment Date
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
a. Class A-1 Notes 5.971300% $ 319,669,638 0.69650 $ 368,638,531 0.80319
b. Class A-2 Notes 6.310000% $ 183,586,801 1.00000 $ 183,586,801 1.00000
c. Class A-3 Notes 5.707500% $ 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% $ 62,329,943 0.93017 $ 63,974,893 0.95472
f. Class B Notes 7.070000% $ 22,948,351 1.00000 $ 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. $1,691,891,419 0.92158 $1,742,505,262 0.94915
</TABLE>
Note: Aggregate Required Payoff Amount of all contracts at the end of the
collection period is $1,691,891,419 and the CCA Balance is $100,972,742.
Page 4 of 10
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<TABLE>
<CAPTION>
2. Monthly Principal Amount
<S> <C>
a. Principal Balance of Notes and Equity Certificates
(End of Prior Collection Period) $ 1,742,505,262
b. Contract Pool Principal Balance (End of Collection Period) $ 1,673,524,708
c. Monthly Principal Amount $ 68,980,554
3. Gross Collections
a. Scheduled Payments Received $ 44,158,767
b. Liquidation Proceeds Allocated to Owner Trust $ 1,020
c. Required Payoff Amounts of Prepaid Contracts $ 17,407,109
d. Required Payoff Amounts of Purchased Contracts $ 180,939
e. Proceeds of Clean-up Call $ -
f. Investment Earnings on Collection Account and Note Distribution $ 242,864
g. Total Gross Collections (sum of (a) through (f)) $ 61,990,698
4. Determination of Available Funds
a. Total Pledged Revenues $ 61,990,698
b. Withdrawal from Cash Collateral Account $ -
c. Total Available Funds $ 61,990,698
5. Class A-3 Swap
a. Payment Details
1. Class A-3 Prinicpal 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%) 5.70750%
5. Class A-3 Interest Rate Day Count (Actual/360) 0.091666667
b. Net Payment Calculation
1. Class A-3 Assumed Fixed Payment to Swap Provider $ 3,869,581
2. Class A-3 Interest Payment $ 3,553,862
3. Class A-3 Swap Payment From/(To) the Trust $ 315,720
</TABLE>
Page 5 of 10
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<TABLE>
<CAPTION>
5. Application of Available Funds
- ---------------------------------------------------------------------------------------
Item Amount Remaining Available Funds
- ---------------------------------------------------------------------------------------
<S> <C> <C>
a. Total Available Funds $ 61,990,698
b. Servicing Fee $ 1,441,735 $ 60,548,963
c. Interest on Notes:
i) Class A-1 Notes $ 2,017,814 $ 58,531,149
ii) Class A-2 Notes $ 965,361 $ 57,565,788
iii) Class A-3 Net Swap $ 315,720 $ 57,250,069
iv) Class A-3 Notes $ 3,553,862 $ 53,696,207
v) Class A-4 Notes $ 1,905,830 $ 51,790,377
vi) Class A-5 Notes $ 372,654 $ 51,417,723
vii) Class B Notes $ 135,204 $ 51,282,519
viii) Class C Notes $ 303,339 $ 50,979,180
d. ix) Class D Notes $ 365,338 $ 50,613,843
Principal of Notes
i) Class A-1 Notes $ 48,968,893 $ 1,644,950
ii) Class A-2 Notes $ - $ 1,644,950
iii) Class A-3 Notes $ - $ 1,644,950
iv) Class A-4 Notes $ - $ 1,644,950
v) Class A-5 Notes $ 1,644,950 $ (0)
vi) Class B Notes $ - $ (0)
vii) Class C Notes $ - $ (0)
e. viii) Class D Notes $ - $ (0)
Deposit to Cash $ - $ (0)
f. Collateral Account
Amount to be applied in
accordance with CCA $ - $ (0)
g Loan Agreement
Balance, if any, to Equity $ - $ (0)
</TABLE>
Page 6 of 10
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<TABLE>
<CAPTION>
III. Information Regarding the Cash Collateral Account
1. Balance Reconciliation
-------------------------------------------------------------------------------------
November 22, 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) 100,972,742
(Sum of (a) plus (b) minus (c) minus (d))
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 7 of 10
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<TABLE>
<CAPTION>
IV. Information Regarding Distributions on Securities
- ------------------------------------------------------------------------------------------------------
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 $ 2,017,814 $ 965,361 $ 3,553,862 $ 1,905,830
2. Interest Paid $ 2,017,814 $ 965,361 $ 3,553,862 $ 1,905,830
3. Interest Shortfall $ - $ - $ - $ -
((1) minus (2))
4. Principal Paid $ 48,968,893 $ - $ - $ -
5. Total Distribution Amount $ 50,986,706 $ 965,361 $ 3,553,862 $ 1,905,830
((2) plus (4))
</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 $ 372,654 $ 135,204 $ 303,339 $ 365,338 $ 9,619,400
2. Interest Paid $ 372,654 $ 135,204 $ 303,339 $ 365,338 $ 9,619,400
3. Interest Shortfall $ - $ - $ - $ - $ -
((1) minus (2))
4. Principal Paid $ 1,644,950 $ - $ - $ - $ 50,613,843
5. Total Distribution Amount $ 2,017,604 $ 135,204 $ 303,339 $ 365,338 $ 60,233,243
((2) plus (4))
</TABLE>
<TABLE>
<CAPTION>
V. Information Regarding Other Pool Characteristics
------------------------------------------------------------------------------------------
As of End of As of End of
Item October-99 September-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 $1,835,868,028 N.A.
Principal Balance
c. Original Weighted Average 47.00 N.A.
Remaining Term
d. Weighted Average 55.00 N.A.
Original Term
2. Current Contract Characteristics
a. Number of Contracts 84,860 85,325
b. Average Contract $19,721 $20,276
Principal Balance
c. Weighted Average 44.5 45.3
Remaining Term
</TABLE>
Page 8 of 10
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<TABLE>
<CAPTION>
VI. Newcourt Equipment Trust Securities 1999-1 Prepayment Schedule
- ---------------------------------------------
Payment Date Since Issue
Period CPR
- ---------------------------------------------
<S> <C> <C>
0 Aug-99
1 Sep-99 7.696%
2 Oct-99 10.521%
3 Nov-99 9.958%
</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 9 of 10
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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 November 22, 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
