<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: February 17, 2000
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 11
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<TABLE>
<CAPTION>
NEWCOURT EQUIPMENT TRUST SECURITIES 1999-1
MONTHLY SERVICING REPORT
DETERMINATION DATE: FEBRUARY 17, 2000 PAYMENT DATE: FEBRUARY 22, 2000
COLLECTION PERIOD: JANUARY 31, 2000
<S> <C> <C>
ITEM 5. OTHER
I. INFORMATION REGARDING THE CONTRACTS
1. CONTRACT POOL PRINCIPAL BALANCE
a. Beginning of Collection Period $1,572,966,233
b. End of Collection Period $1,507,094,958
c. Reduction for Collection Period $ 65,871,274
2. DELINQUENT SCHEDULED PAYMENTS
a. Beginning of Collection Period $ 24,708,376
b. End of Collection Period $ 30,341,329
3. LIQUIDATED CONTRACTS
a. Number of Liquidated Contracts 295
with respect to Collection Period -------------
b. Required Payoff Amounts of Liquidated Contracts $ 6,500,104
c. Total Reserve for Liquidation Expenses $ -
d. Total Liquidation Proceeds Received (1) $ 7
e. Liquidation Proceeds Allocated to Owner Trust $ 30,130
f. Liquidation Proceeds Allocated to Depositor $ (974.35)
g. Current Realized Losses $ 6,469,974
4. PREPAID CONTACTS
a. Number of Prepaid Contracts with respect 475
to Collection Period --------------
b. Required Payoff Amounts of Prepaid Contracts $ 9,803,520
5. PURCHASED CONTRACTS (BY TCC)
a. Number of Contracts Purchased by TCC with 8
respect to Collection Period --------------
b. Required Payoff Amounts of Purchased Contracts $ 170,951
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 75,782 91.96% $1,399,845,281 91.05%
b. 31-60 days 3,334 4.05% $ 68,861,793 4.48%
c. 61-90 days 1,570 1.91% $ 32,205,117 2.09%
d. 91-120 days 779 0.95% $ 16,371,726 1.06%
e. 120+ days 946 1.15% $ 20,152,371 1.31%
f. Total 82,411 100.00% $1,537,436,287 100.00%
</TABLE>
Page 3 of 11
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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>
01/31/2000 4.48% 2.09% 1.06% 1.31%
12/31/1999 5.04% 1.44% 1.08% 1.14%
11/30/1999 4.25% 1.36% 0.61% 1.10%
10/31/1999 3.70% 1.22% 0.79% 1.05%
09/30/1999 3.65% 1.06% 0.98% 0.35%
08/31/1999 3.34% 2.02% 0.49% 0.01%
</TABLE>
8. HISTORICAL LOSS EXPERIENCE WITH RESPECT TO CONTRACTS
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------
COLLECTION 3 COLLECTION COLLECTION PERIODS CUMULATIVE SINCE
PERIOD PERIODS ENDING ENDING CUT-OFF DATE
JANUARY-00 JANUARY-00 JANUARY-00
---------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
a. Number of Liquidated Contracts 295 901 988 988
b. Number of Liquidated
Contracts as a Percentage
of Initial Contracts 0.342% 1.045% 1.146% 1.146%
c. Required Payoff Amounts of
Liquidated Contracts 6,500,104 19,903,785 21,711,184 21,711,184
d. Liquidation Proceeds Allocated
to Owner Trust 30,130 69,097 76,830 76,830
e. Aggregate Current Realized
Losses 6,469,974 19,834,688 21,634,354 21,634,354
f. Aggregate Current Realized
Losses as a Percentage of
Cut-off Date Contract Pool
Principal Balance 0.352% 1.080% 1.178% 1.178%
</TABLE>
Page 4 of 11
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II. INFORMATION REGARDING THE SECURITIES
1. SUMMARY OF BALANCE INFORMATION
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
PRINCIPAL BALANCE AS OF CLASS FACTOR AS OF PRINCIPAL BALANCE AS OF CLASS FACTORS AS OF
CLASS COUPON FEBRUARY 22, 2000 FEBRUARY 22, 2000 JANUARY 20, 2000 JANUARY 20, 2000
RATE PAYMENT DATE PAYMENT DATE PAYMENT DATE PAYMENT DATE
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
a. Class A-1 Notes 5.971300% $170,234,298 0.37091 $228,514,878 0.49789
b. Class A-2 Notes 6.310000% $183,586,801 1.00000 $183,586,801 1.00000
c. Class A-3 Notes 6.107500% $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% $57,310,151 0.85526 $59,267,897 0.88447
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. $1,537,436,287 0.83744 $1,597,674,613 0.87026
</TABLE>
Note: Aggregate Required Payoff Amount of all contracts at the end of the
collection period is $ 1,537,436,287.26 and the CCA Balance is $ 87,492,651.94.
Page 5 of 11
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<TABLE>
<S> <C>
2. MONTHLY PRINCIPAL AMOUNT
a. Principal Balance of Notes and Equity Certificates
(End of Prior Collection Period) $1,597,674,613.33
b. Contract Pool Principal Balance (End of Collection Period) $1,507,094,958.21
c. Monthly Principal Amount $ 90,579,655.12
3. GROSS COLLECTIONS
a. Scheduled Payments Received $ 53,932,723.73
b. Liquidation Proceeds Allocated to Owner Trust $ 30,130.37
c. Required Payoff Amounts of Prepaid Contracts $ 9,803,519.92
d. Required Payoff Amounts of Purchased Contracts $ 170,950.50
e. Proceeds of Clean-up Call $ -
f. Investment Earnings on Collection Account and Note Distribution Account $ 282,725.07
g. Total Gross Collections (sum of (a) through (f)) $ 64,220,049.59
4. DETERMINATION OF AVAILABLE FUNDS
a. Total Pledged Revenues $ 64,220,049.59
b. Withdrawal from Cash Collateral Account $ 6,469,789.81
c. Total Available Funds $ 70,689,839.40
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%) 6.10750%
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 $ 3,802,928
3. Class A-3 Swap Payment From/(To) the Trust $ 66,653
</TABLE>
Page 6 of 11
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5. APPLICATION OF AVAILABLE FUNDS
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------
ITEM AMOUNT REMAINING AVAILABLE FUNDS
----------------------------------------------------------------------------------
<S> <C> <C>
a. Total Available Funds $70,689,839
b. Servicing Fee $ 1,310,805 $69,379,034
c. Interest on Notes:
i) Class A-1 Notes $ 1,250,820 $68,128,214
ii) Class A-2 Notes $ 965,361 $67,162,854
iii) Class A-3 Net Swap $ 66,653 $67,096,200
iv) Class A-3 Notes $ 3,802,928 $63,293,272
v) Class A-4 Notes $ 1,905,830 $61,387,442
vi) Class A-5 Notes $ 345,236 $61,042,207
vii) Class B Notes $ 135,204 $60,907,003
viii) Class C Notes $ 303,339 $60,603,664
d. ix) Class D Notes $ 365,338 $60,238,326
Principal of Notes
i) Class A-1 Notes $58,280,581 $ 1,957,746
ii) Class A-2 Notes $ - $ 1,957,746
iii) Class A-3 Notes $ - $ 1,957,746
iv) Class A-4 Notes $ - $ 1,957,746
v) Class A-5 Notes $ 1,957,746 $ (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 7 of 11
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III. INFORMATION REGARDING THE CASH COLLATERAL ACCOUNT
1. BALANCE RECONCILIATION
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------
FEBRUARY 22, 2000
ITEM PAYMENT DATE
---------------------------------------------------------------------------------
<S> <C>
a. Available Cash Collateral Amount (Beginning) 93,962,442
b. Deposits to Cash Collateral Account -
c. Withdrawals from Cash Collateral Account 6,469,790
d. Releases of Cash Collateral Account Surplus -
(Excess, if any of (a) plus (b) minus (c) over (f))
e. Available Cash Collateral Amount (End) 87,492,652
(Sum of (a) plus (b) minus (c) minus (d))
f. Requisite Cash Collateral Amount 100,972,742
g. Cash Collateral Account Shortfall 13,480,090
(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 99,468,267
2) The Aggregate Principal Balance of the Notes
and the Equity Certificate Balance less the
Contract Pool Principal Balance 30,341,329
3) Total ((1) plus (2)) 129,809,596
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
2) the Aggregate Principal Balance of the Notes
and the Equity Certificate Balance 1,537,436,287
d. Requisite Cash Collateral Amount 100,972,742
3. CALCULATION OF CASH COLLATERAL ACCOUNT WITHDRAWALS
a. Interest Shortfalls -
b. Principal Deficiency Amount 6,469,790
c. Principal Payable at Stated Maturity Date of
Class of Notes or Equity Certificates -
d. Total Cash Collateral Account Withdrawals 6,469,790
</TABLE>
Page 8 of 11
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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 $ 1,250,820 $ 965,361 $3,802,928 $1,905,830
2. Interest Paid $ 1,250,820 $ 965,361 $3,802,928 $1,905,830
3. Interest Shortfall
((1) minus (2)) $ - $ - $ - $ -
4. Principal Paid $58,280,581 $ - $ - $ -
5. Total Distribution Amount
((2) plus (4)) $59,531,400 $ 965,361 $3,802,928 $1,905,830
<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 $ 345,236 $ 135,204 $ 303,339 $ 365,338 $ 9,074,055
2. Interest Paid $ 345,236 $ 135,204 $ 303,339 $ 365,338 $ 9,074,055
3. Interest Shortfall
((1) minus (2)) $ - $ - $ - $ - $ -
4. Principal Paid $ 1,957,746 $ - $ - $ - $60,238,326
5. Total Distribution Amount
((2) plus (4)) $ 2,302,981 $ 135,204 $ 303,339 $ 365,338 $69,312,381
</TABLE>
Page 9 of 11
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V. INFORMATION REGARDING OTHER POOL CHARACTERISTICS
<TABLE>
<CAPTION>
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AS OF END OF AS OF END OF
ITEM JANUARY-00 DECEMBER-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 82,411 83,280
b. Average Contract
Principal Balance 18,288 18,888
c. Weighted Average
Remaining Term 42.3 43.0
</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-99 8.327%
6 Feb-99 9.785%
</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 10 of 11
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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 February 22, 2000
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 11 of 11
