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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 20, 1999
Advanta Conduit Receivables, Inc., as Sponsor
on behalf of Advanta Revolving Home Equity Loan Trust 1999-B
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Nevada 333-75295 88-0360305
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification
Incorporation) No.)
</TABLE>
Advanta Conduit Receivables, Inc.
(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Nevada 333-77927 88-0360305
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) ID Number)
Attention: General Counsel
10790 Rancho Bernardo Road
San Diego, California 92127
(Address of principal executive (Zip Code)
offices)
Registrant's Telephone Number,
including area code: (619) 674-1800
</TABLE>
(Former name or former address, if changed since last report)
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Item 5. Other Events
Incorporation of Certain Documents by Reference
The consolidated financial statements of Ambac Assurance Corporation
and subsidiaries as of December 31, 1998 and December 31, 1997, and for each of
the years in the three-year period ended December 31, 1998, prepared in
accordance with generally accepted accounting principles, included in the Annual
Report on Form 10-K of Ambac Financial Group, Inc. (which was filed with the
Securities and Exchange Commission on March 30, 1999; Commission File Number
1-10777) and the unaudited consolidated financial statements of Ambac Assurance
Corporation and subsidiaries as of June 30, 1999, and for the periods ended June
30, 1999 and June 30, 1998, included in the Quarterly Report on Form 10-Q of
Ambac Financial Group, Inc. for the period ended June 30, 1999 (which was filed
with the Securities and Exchange Commission on August 13, 1999) are hereby
incorporated by reference in (i) this Current Report on Form 8-K; (ii) the
registration statement (No. 333-75295) of the registrant; and (iii) the
preliminary prospectus supplement, and shall be deemed to be part hereof and
thereof.
In connection with the issuance of the Certificates, the Company is
filing herewith the consent of KPMG LLP ("KPMG") to the use of their name and
the incorporation by reference of their report in the preliminary prospectus
supplement relating to the issuance of the Certificates. The consent of KPMG is
attached hereto as Exhibit 23.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
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<CAPTION>
Exhibit No. Description
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23.1 Consent of KPMG LLP
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2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
ADVANTA REVOLVING HOME EQUITY LOAN
TRUST 1999-B
By: Advanta Conduit Receivables, Inc.
By:
-------------------------------------
Name: Michael Coco
Title: Vice President
ADVANTA CONDUIT RECEIVABLES, INC.
By:
-------------------------------------
Name: Michael Coco
Title: Vice President
Dated: September 20, 1999
3
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EXHIBIT INDEX
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<CAPTION>
Exhibit No. Description
- ----------- -----------
<S> <C>
23.1 Consent of KPMG LLP
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4
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EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
The Board of Directors
Ambac Assurance Corporation:
We consent to the incorporation by reference in the registration statement (No.
333-75295) of Advanta Conduit Receivables, Inc. (the "Registrant") relating to
the Advanta Revolving Home Equity Trust 1999-B and in the Preliminary Prospectus
Supplement of the Registrant (the "Preliminary Prospectus Supplement") via the
Form 8-K of the Registrant dated September 15, 1999, of our report dated January
27, 1999 on the consolidated financial statements of Ambac Assurance Corporation
and subsidiaries as of December 31, 1998 and 1997, and for each of the years in
the three-year period ended December 31, 1998 which report appears in the Form
10-K of Ambac Financial Group, Inc., which was filed with the Securities and
Exchange Commission on March 30, 1999 and to the reference to our firm under the
heading "Experts" in the Preliminary Prospectus Supplement.
/s/ KPMG LLP
New York, New York
September 20, 1999
