<PAGE> 1
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 27, 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)
<TABLE>
<CAPTION>
Nevada 333-75295 88-0360305
<S> <C> <C>
(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)
<TABLE>
<CAPTION>
Nevada 333-77927 88-0360305
<S> <C> <C>
(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)
<PAGE> 2
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
prospectus supplement, and shall be deemed to be part hereof and thereof.
Consents
In connection with the issuance of the Advanta Revolving Home Equity
Loan Asset Backed Notes, Series 1999-B (the "Notes"), the registrant is filing
herewith the consents of KPMG LLP ("KPMG") and Arthur Andersen LLP to the use of
their names and the incorporation by reference of their reports in the
prospectus supplement relating to the issuance of the Notes. The consents of
KPMG and AA are attached hereto as Exhibits 23.1 and 23.2.
In connection with the issuance of the Notes, the registrant is filing
herewith the consent of Arthur Andersen LLP ("Arthur Andersen") to the use of
their name and the inclusion of their report in the prospectus supplement
relating to the issuance of the Notes. The consent of Arthur Andersen is
attached hereto as Exhibit 23.2
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
<TABLE>
<CAPTION>
Exhibit No. Description
----------- -----------
<S> <C>
23.1 Consent of KPMG LLP
23.2 Consent of Arthur Andersen LLP
</TABLE>
2
<PAGE> 3
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: /s/ Michael Coco
-------------------------------------
Name: Michael Coco
Title: Vice President
ADVANTA CONDUIT RECEIVABLES, INC.
By: /s/ Michael Coco
-------------------------------------
Name: Michael Coco
Title: Vice President
Dated: September 27, 1999
3
<PAGE> 4
EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit No. Description
- ----------- -----------
<S> <C>
23.1 Consent of KPMG LLP
23.2 Consent of Arthur Andersen LLP
</TABLE>
4
<PAGE> 1
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 Prospectus Supplement
of the Registrant (the "Prospectus Supplement") via the Form 8-K of the
Registrant dated September 27, 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 Prospectus Supplement.
/s/ KPMG LLP
New York, New York
September 27, 1999
<PAGE> 1
EXHIBIT 23.2
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the use of our report
(and to all references to our Firm) included in or made a part of this
Prospectus Supplement for Advanta Revolving Home Equity Loan Trust 1999-B and in
Exhibit A to this Prospectus Supplement.
/s/ Arthur Andersen LLP
Philadelphia, Pennsylvania
September 21, 1999
