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Previous: CAVION TECHNOLOGIES INC, 8-K, EX-99.2, 2000-12-22 |
Next: TRINITY ENERGY RESOURCES INC, 8-K, 2000-12-22 |
<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: December 18, 2000
Newcourt Equipment Trust Securities 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) 740-5408
Page 2 of 10
<PAGE>
ITEM 5. OTHER
<TABLE>
<CAPTION>
NEWCOURT EQUIPMENT TRUST SECURITIES 1999-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: DECEMBER 18, 2000 PAYMENT DATE: DECEMBER 20, 2000
COLLECTION PERIOD: NOVEMBER 30, 2000
<S> <C>
I. INFORMATION REGARDING THE CONTRACTS
1. CONTRACT POOL PRINCIPAL BALANCE
a. Beginning of Collection Period $ 1,072,578,534.32
b. End of Collection Period $ 1,025,888,683.62
c. Reduction for Collection Period $ 46,689,850.69
2. DELINQUENT SCHEDULED PAYMENTS
a. Beginning of Collection Period $ 18,390,052.49
b. End of Collection Period $ 20,810,093.05
3. LIQUIDATED CONTRACTS
a. Number of Liquidated Contracts 273
with respect to Collection Period
b. Required Payoff Amounts of Liquidated Contracts $ 3,414,393.64
c. Total Reserve for Liquidation Expenses $ -
d. Total Liquidation Proceeds Received (1) $ 1,857,622.62
e. Liquidation Proceeds Allocated to Owner Trust $ 1,857,622.62
f. Liquidation Proceeds Allocated to Depositor $ -
g. Current Realized Losses $ 1,556,771.02
4. PREPAID CONTACTS
a. Number of Prepaid Contracts with respect 1,094
to Collection Period
b. Required Payoff Amounts of Prepaid Contracts $ 9,977,267.56
5. PURCHASED CONTRACTS (BY TCC)
a. Number of Contracts Purchased by TCC with -
respect to Collection Period
b. Required Payoff Amounts of Purchased Contracts $ -
</TABLE>
Page 3 of 10
<PAGE>
6. DELINQUENCY STATUS OF CONTRACTS (END OF COLLECTION PERIOD)
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
% OF AGGREGATE
NUMBER OF % OF AGGREGATE REQUIRED REQUIRED PAYOFF
CONTRACTS CONTRACTS PAYOFF AMOUNTS AMOUNTS
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Current 64,120 91.44% 947,832,468.27 90.55%
b. 31-60 days 3,238 4.62% 51,210,790.72 4.89%
c. 61-90 days 1,237 1.76% 20,222,180.56 1.93%
d. 91-120 days 733 1.05% 12,504,039.30 1.19%
e. 120+ days 797 1.14% 14,929,297.82 1.43%
f. Total 70,125 100.00% 1,046,698,776.67 100.00%
</TABLE>
7. HISTORICAL DELINQUENCY EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
% 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>
11/30/00 4.89% 1.93% 1.19% 1.43%
10/31/00 4.32% 1.72% 1.09% 0.98%
9/30/00 4.39% 2.61% 0.84% 1.03%
8/31/00 4.88% 1.74% 0.91% 0.97%
7/31/00 4.62% 1.53% 1.43% 1.13%
6/30/00 5.33% 1.62% 0.65% 1.59%
5/31/00 4.46% 1.34% 1.58% 1.14%
4/30/00 4.98% 2.18% 1.14% 1.00%
3/31/00 4.75% 1.85% 0.64% 1.57%
2/29/00 5.79% 1.90% 0.98% 1.42%
1/31/00 4.48% 2.09% 1.06% 1.31%
12/31/99 5.04% 1.44% 1.08% 1.14%
11/30/99 4.25% 1.36% 0.61% 1.10%
10/31/99 3.70% 1.22% 0.79% 1.05%
9/30/99 3.65% 1.06% 0.98% 0.35%
8/31/99 3.34% 2.02% 0.49% 0.01%
</TABLE>
Page 4 of 10
<PAGE>
8. HISTORICAL LOSS EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
COLLECTION 3 COLLECTION 6 COLLECTION PERIODS CUMULATIVE SINCE
PERIOD PERIODS ENDING ENDING CUT-OFF DATE
NOVEMBER-00 NOVEMBER-00 NOVEMBER-00
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Number of Liquidated 273 818 1,606 3,832
Contracts
b. Number of Liquidated 0.317% 0.949% 1.863% 4.445%
Contracts as a Percentage
of Initial Contracts
c. Required Payoff Amounts of 3,414,393.64 12,485,746.49 33,205,167.14 81,952,030.28
Liquidated Contracts
d. Liquidation Proceeds Allocated 1,857,622.62 5,284,825.32 15,164,248.92 27,859,539.87
to Owner Trust
e. Aggregate Current Realized 1,556,771.02 7,200,921.17 18,040,918.22 54,092,490.41
Losses
f. Aggregate Current Realized 0.085% 0.392% 0.983% 2.946%
Losses as a Percentage of
Cut-off Date Contract Pool
Principal Balance
</TABLE>
II. INFORMATION REGARDING THE SECURITIES
1. SUMMARY OF BALANCE INFORMATION
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
CLASS COUPON DECEMBER 20, 2000 DECEMBER 20, 2000 NOVEMBER 20, 2000 NOVEMBER 20, 2000
RATE PAYMENT DATE PAYMENT DATE PAYMENT DATE PAYMENT DATE
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
a. Class A-1 Notes 5.9713% $0.00 0.00000 $0.00 0.00000
b. Class A-2 Notes 6.3100% $0.00 0.00000 $0.00 0.00000
c. Class A-3 Notes 6.9188% $570,931,457.81 0.84051 $611,746,184.52 0.90059
d. Class A-4 Notes 7.1800% $318,523,103.00 1.00000 $318,523,103.00 1.00000
e. Class A-5 Notes 6.9900% $40,684,854.31 0.60715 $42,202,274.46 0.62980
f. Class B Notes 7.0700% $17,098,486.69 0.74509 $17,876,666.43 0.77900
g. Class C Notes 7.2100% $37,615,234.47 0.74506 $39,327,164.54 0.77897
h. Class D Notes 7.9600% $41,035,547.34 0.74507 $42,903,141.37 0.77898
I. Total N.A. $1,025,888,683.63 0.55880 $1,072,578,534.32 0.58424
</TABLE>
Note: Aggregate Required Payoff Amount of all contracts at the end
of the collection period is $1,025,888,683.63 and the CCA
Balance is 60,932,283.37
Page 5 of 10
<PAGE>
<TABLE>
<S> <C>
2. TOTAL PRINCIPAL PAYMENT
a. Principal Balance of Notes $ 1,072,578,534.32
(End of Prior Collection Period) $ 1,025,888,683.62
b. Contract Pool Principal Balance (End of Collection Period) $ 46,689,850.70
c. Total Principal Payment
3. GROSS COLLECTIONS $ 38,620,383.92
a. Scheduled Payments Received $ 1,857,622.62
b. Liquidation Proceeds Allocated to Owner Trust $ 9,977,267.56
c. Required Payoff Amounts of Prepaid Contracts $ -
d. Required Payoff Amounts of Purchased Contracts $ -
e. Proceeds of Clean-up Call $ 233,343.31
f. Investment Earnings on Collection Account and Note Distribution Account $ 2,420,040.56
g. Net Servicer Advances/(Recoveries) $ 53,108,657.97
h. Total Gross Collections (sum of (a) through (f))
4. DETERMINATION OF AVAILABLE FUNDS $ 53,108,657.97
a. Total Pledged Revenues $ 737,785.34
b. Withdrawal from Cash Collateral Account $ 53,846,443.31
c. Total Available Funds
5. CLASS A-3 SWAP
a. Payment Details $ 40,814,726.71
1. Class A-3 Principal Amount 6.8360%
2. Class A-3 Assumed Fixed Rate 0.083333333
3. Class A-3 Assumed Fixed Rate Count (30/360) 6.91875%
4. Class A-3 Interest Rate (Libor + .30%) 0.083333333
5. Class A-3 Interest Rate Day Count (Actual/360)
b. Net Payment Calculation $ 3,484,914.10
1. Class A-3 Assumed Fixed Payment to Swap Provider $ 3,527,099.10
2. Class A-3 Interest Payment $ (42,185.00)
3. Class A-3 Swap Payment From/(To) the Trust
</TABLE>
Page 6 of 10
<PAGE>
6. APPLICATION OF AVAILABLE FUNDS
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
ITEM AMOUNT REMAINING AVAILABLE FUNDS
-------------------------------------------------------------------------------------------------------
<S> <C> <C>
a. Total Available Funds 53,846,443.31
b. Servicing Fee 893,815.45 52,952,627.86
c. Interest on Notes:
i) Class A-1 Notes 0.00 52,952,627.86
ii) Class A-2 Notes 0.00 52,952,627.87
iii) Class A-3 Net Swap (42,185.00) 52,994,812.87
iv) Class A-3 Notes 3,527,099.10 49,467,713.78
v) Class A-4 Notes 1,905,829.90 47,561,883.88
vi) Class A-5 Notes 245,828.25 47,316,055.64
vii) Class B Notes 105,323.36 47,210,732.29
viii) Class C Notes 236,290.71 46,974,441.58
ix) Class D Notes 284,590.84 46,689,850.70
d. Principal of Notes
i) Class A-1 Notes 0.00 46,689,850.70
ii) Class A-2 Notes 0.00 46,689,850.70
iii) Class A-3 Notes 40,814,726.71 5,875,123.99
iv) Class A-4 Notes 0.00 5,875,123.99
v) Class A-5 Notes 1,517,420.15 4,357,703.84
vi) Class B Notes 778,179.74 3,579,524.10
vii) Class C Notes 1,711,930.07 1,867,594.03
viii) Class D Notes 1,867,594.03 0.00
e. Deposit to Cash
Collateral Account 0.00 0.00
f. Amount to be applied in
accordance with CCA 0.00 0.00
Loan Agreement
g Balance, if any, to Equity 0.00 0.00
Certificates
</TABLE>
Page 7 of 10
<PAGE>
III. INFORMATION REGARDING THE CASH COLLATERAL ACCOUNT
1. BALANCE RECONCILIATION
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------
DECEMBER 20, 2000
ITEM PAYMENT DATE
--------------------------------------------------------------------------------------------------
<S> <C>
a. Available Cash Collateral Amount (Beginning) 61,670,068.71
b. Deposits to Cash Collateral Account 0.00
c. Withdrawals from Cash Collateral Account 737,785.34
d. Releases of Cash Collateral Account Surplus 0.00
(Excess, if any of (a) plus (b) minus (c) over (f))
e. Available Cash Collateral Amount (End) 60,932,283.37
(Sum of (a) plus (b) minus (c) minus (d))
f. Requisite Cash Collateral Amount 67,708,653.12
g. Cash Collateral Account Shortfall 6,776,369.75
(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 100,972,742.00
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 67,708,653.12
2) The Aggregate Principal Balance of the Notes
and the Equity Certificate Balance less the
Contract Pool Principal Balance 0.00
3) Total ((1) plus (2)) 67,708,653.12
c. Floor equal to the lesser of
1) 1.25% of Cut-Off Date Contract Pool Principal
Balance ($22,948,350); and 22,948,350.00
2) the Aggregate Principal Balance of the Notes
and the Equity Certificate Balance 1,025,888,683.63
d. Requisite Cash Collateral Amount 67,708,653.12
3. CALCULATION OF CASH COLLATERAL ACCOUNT WITHDRAWALS
a. Interest Shortfalls 0.00
b. Principal Deficiency Amount 737,785.34
c. Principal Payable at Stated Maturity Date of
Class of Notes or Equity Certificates 0.00
d. Total Cash Collateral Account Withdrawals 737,785.34
</TABLE>
Page 8 of 10
<PAGE>
IV. INFORMATION REGARDING DISTRIBUTIONS ON SECURITIES
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------
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 $ - $ - $ 3,527,099.10 $ 1,905,829.90
2. Interest Paid $ - $ - $ 3,527,099.10 $ 1,905,829.90
3. Interest Shortfall $ - $ - $ - $ -
((1) minus (2))
4. Principal Paid $ - $ - $ 40,814,726.71 $ -
5. Total Distribution Amount $ - $ - $ 44,341,825.81 $ 1,905,829.90
((2) plus (4))
--------------------------------------------------------------------------------------------------------------------------
DISTRIBUTION CLASS A-5 CLASS B CLASS C CLASS D
AMOUNTS NOTES NOTES NOTES NOTES TOTALS
--------------------------------------------------------------------------------------------------------------------------
1. Interest Due $ 245,828.25 $ 105,323.36 $ 236,290.71 $ 284,590.84 $ 6,304,962.15
2. Interest Paid $ 245,828.25 $ 105,323.36 $ 236,290.71 $ 284,590.84 $ 6,304,962.15
3. Interest Shortfall $ - $ - $ - $ - $ -
((1) minus (2))
4. Principal Paid $1,517,420.15 $ 778,179.74 $ 1,711,930.07 $ 1,867,594.03 $ 46,689,850.70
5. Total Distribution Amount $1,763,248.40 $ 883,503.10 $ 1,948,220.78 $ 2,152,184.87 $ 52,994,812.85
((2) plus (4))
</TABLE>
Page 9 of 10
<PAGE>
V. INFORMATION REGARDING OTHER POOL CHARACTERISTICS
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
AS OF END OF AS OF END OF
ITEM NOVEMBER-00 OCTOBER-00
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 70,125 71,649
b. Average Contract 14,629 14,970
Principal Balance
c. Weighted Average 35.9 36.5
Remaining Term
</TABLE>
VI. NEWCOURT EQUIPMENT TRUST SECURITIES 1999-1 PREPAYMENT SCHEDULE
<TABLE>
<CAPTION>
---------------------------------------------------------------------------
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%
4 Dec-99 8.758%
5 Jan-00 8.327%
6 Feb-00 9.785%
7 Mar-00 9.516%
8 Apr-00 9.315%
9 May-00 9.708%
10 Jun-00 9.706%
11 Jul-00 9.497%
12 Aug-00 11.356%
13 Sep-00 10.971%
14 Oct-00 11.260%
15 Nov-00 11.072%
16 Dec-00 11.198%
</TABLE>
VII. PURCHASED, LIQUIDATED AND PAID CONTRACTS
A COMPUTER LISTING OF ALL PURCHASED, LIQUIDATED AND PAID CONTRACTS
HAS BEEN PROVIDED TO THE INDENTURE TRUSTEE.
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
Glenn Votek
-----------
Glenn Votek
Executive Vice President, and Treasurer
Page 10 of 10
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