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): 12/30/99
ORIX Credit Alliance Receivables Corporation (as Trust Depositor under the
Amended and Restated Trust Agreement, dated as of November 23, 1999,
providing for the issuance of Receivable-Backed Notes, Series 1999-A)
ORIX Credit Alliance Receivables Corporation II
(Exact name of registrant as specified in its charter)
Delaware 333-84627-01 22-3669361
(State or Other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of Incorporation)
300 Lighting Way
Secaucus, New Jersey 07096
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (201) 601-9166
Item 5.Other Events.
On Behalf of ORIX Credit Alliance Receivables Trust 1999-A, a Trust
created pursuant to the Transfer and Servicer Agreement dated November
23, 1999 by Harris Trust and Saving Bank as indenture trustee for the Trust,
the Trustee has caused to be filed with the Commission, the Monthly Report
dated November 30, 1999, The Monthly Report is filed pursuant to and in
accordance with (1) numerous no-action letters (2) current Commission policy
in the area. The filing of the Monthly distribution to the holders of the
Receivable-Backed Notes, Series 1999-A.
A. Monthly Report Information:
See Exhibit No. 1
B. Have any deficiencies occurred? NO.
Date:
Amount:
C. Item 1: Legal Proceedings: NONE
D. Item 2: Changes in Securities: NONE
E. Item 4: Submission of Matters to a Vote of Certifi-
catholders: NONE
F. Item 5: Other Information - Form 10-Q, Part II -
Items 1,2,4,5 if applicable: NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Information and Exhibits.
Exhibit No. 1
ORIX Credit Alliance
Receivables Trust 1999-A
MONTHLY REPORT
A. AGGREGATE PRINCIPAL BALANCE OF CONTRACTS
Aggregate Principal Balance of the Contracts, 205,334,786.68
beginning of Collection Period
Less: Principal Payments 6,017,540.52
Less: Aggregate Principal Balance of Defaulted Contracts 0.00
that became Defaulted Contracts during the Collection Period
Add: Aggregate Principal Balance of Substitute Contracts 0.00
Aggregate Principal Balance of the Contracts, end of 199,317,246.16
Collection Period
B. SERVICER ADVANCES
Aggregate amount of Servicer Advances at the beginning of the 0.00
Collection Period
Servicer Advances made during the Collection Period 1,488,454.55
Servicer Advances reimbursed during the Collection Period 0.00
Aggregate amount of Servicer Advances at the end of the 1,488,454.55
Collection Period
C. DEFAULTED CONTRACTS
Cumulative Aggregate Principal Balance of Defaulted Contracts 0.00
beginning of Collection Period
Aggregate Principal Balance of Defaulted Contracts that 0.00
became Defaulted Contracts during the Collection Period
Cumulative Aggregate Principal Balance of Defaulted Contracts, 0.00
end of Collection Period
Cumulative Recoveries on Defaulted Contracts, 0.00
beginning of Collection Period
Recoveries on Defaulted Contracts during the current 0.00
Collection Period
Cumulative Recoveries on Defaulted Contracts, 0.00
end of Collection Period
Cumulative Net Loss Percentage end of Collection Period 0.00%
D. SUBSTITUTIONS
Casualty Loss, Materially Modified and Defaulted Contracts 0.00
Substituted to Date, beginning of Collection Period
Casualty Loss, Materially Modified and Defaulted Contracts 0.00
replaced with Substitute Contracts during the current Collection Period
Casualty Loss, Materially Modified and Defaulted Contracts 0.00
Substituted to Date, end of Collection Period
Percentage of Pool Balance at end of Collection Period 0.00%
Prepaid, Ineligible and Excess Contracts, Substituted to date, 0.00
beginning of Collection Period
Prepaid, Ineligible and Excess Contracts replaced with 0.00
Substitute Contracts during the current Collection Period
Prepaid, Ineligible and Excess Contracts Substituted to date 0.00
end of Collection Period
Percentage of Pool Balance at end of Collection Period 0.00%
Total Substitutions, end of Collection Period 0.00
Total Percentage of Pool Balance, Substituted as of end of 0.00%
Collection Period
E. RESERVE FUND
Reserve Fund balance, beginning of Collection Period 3,064,622.00
Required Reserve Fund Amount 5,948,717.20
Shortfall 2,884,095.20
Deposit from (release to) waterfall 1,032,762.02
Reserve Fund balance, end of Collection Period 4,097,384.02
F. AVAILABLE AMOUNTS
Principal collections 6,017,540.52
Interest collections 1,991,516.18
Late Charges 22,913.73
Recoveries 0.00
Reinvestment Income from Collection Account, 9,236.65
Reserve Fund and Spread Fund
Amounts in Spread Fund 0.00
Amounts withdrawn from Reserve Fund 0.00
Total Available Amounts 8,041,207.08
G. SPREAD FUND CALCULATION
ORIX Credit Alliance, Inc. as Servicer (Yes/No) Yes
Three Month Delinquency Percentage (may not exceed 5.0%) 0.00%
Cumulative Net Loss Percentage (May not exceed 1.0% from December 15,
1999 to October 15, 2000, 1.25% from November 15, 2000 to April 15,
2001, 1.50% from May 15, 2001 to October 15, 2001, and 2.0% thereafter).
0.00%
Spread Fund balance, beginning of Collection Period 0.00
Deposit from (release to) waterfall 0.00
Spread Fund balance, end of Collection Period 0.00
H. DELINQUENCIES
Aggregate Principal Balance of Contracts Delinquent > than 31 days 6,499,499.46
Aggregate Principal Balance of Contracts Delinquent > than 61 days 0.00
Aggregate Principal Balance of Contracts Delinquent > than 91 days 0.00
ORIX Credit Alliance Receivables Trust 1999-A
Page 2 Monthly Servicer Report 10-Dec-99
I. PAYMENTS TO NOTEHOLDERS
Class A Noteholders:
Initial Class A Principal Amount 195,068,048.00
Class A Principal Amount outstanding at the beginning of 195,068,048.00
Collection Period
Class A Percentage 93.12242%
Class A Target Investor Principal Amount 185,609,043.00
Class A Principal Payment Amount 9,459,005.00
Class A-1 Noteholders:
Initial Class A-1 Principal Amount 56,056,397.00
Class A-1 Principal Amount outstanding at the beginning 56,056,397.00
of the Collection Period
Class A-1 Interest Rate 6.125968%
Class A-1 interest for the current Collection Period 209,855.37
Class A-1 interest accrued in prior Collection Periods for which 0.00
no allocation was made
Total interest due to the Class A-1 Noteholders 209,855.37
Available Amounts allocated to interest due to the Class A-1 209,855.37
Noteholders
Class A-1 Principal Payment Amount 6,017,540.52
Class A-1 Additional Principal 0.00
Available Amounts allocated to Principal due to the Class A-1 6,017,540.52
Noteholders
Total payment to the Class A-1 Noteholders 6,227,395.89
Class A-1 Principal Amount outstanding at the end of the 50,038,856.48
Collection Period
Class A-2 Noteholders:
Initial Class A-2 Principal Amount 38,500,273.00
Class A-2 Principal Amount outstanding at the beginning of the 38,500,273.00
Collection Period
Class A-2 Interest Rate 6.47000%
Class A-2 interest for the current Collection Period 152,225.80
Class A-2 interest accrued in prior Collection Periods for 0.00
which no allocation was previously made
Total interest due to the Class A-2 Noteholders 152,225.80
Available Amounts allocated to interest due to the Class A-2 152,225.80
Noteholders
Class A-2 Principal Payment Amount 0.00
Class A-2 Additional Principal 0.00
Available Amounts allocated to Principal due to the Class A-2 0.00
Noteholders
Total payment to the Class A-2 Noteholders 152,225.80
Class A-2 Principal Amount outstanding at the end of the 38,500,273.00
Collection Period
Class A-3 Noteholders:
Initial Class A-3 Principal Amount 73,407,186.00
Class A-3 Principal Amount outstanding at the beginning of the 73,407,186.00
Collection Period
Class A-3 Interest Rate 6.73000%
Class A-3 interest for the current Collection Period 301,907.44
Class A-3 interest accrued in prior Collection Periods for 0.00
which no allocation was previously made
Total interest due to the Class A-3 Noteholders 301,907.44
Available Amounts allocated to interest due to the Class A-3 301,907.44
Noteholders
Class A-3 Principal Payment Amount 0.00
Class A-3 Additional Principal 0.00
Available Amounts allocated to Principal due to the Class A-3 0.00
Noteholders
Total payment to the Class A-3 Noteholders 301,907.44
Class A-3 Principal Amount outstanding at the end of the 73,407,186.00
Collection Period
Class A-4 Noteholders:
Initial Class A-4 Principal Amount 27,104,192.00
Class A-4 Principal Amount outstanding at the beginning of 27,104,192.00
the Collection Period
Class A-4 Interest Rate 6.87000%
Class A-4 interest for the current Collection Period 113,792.43
Class A-4 interest accrued in prior Collection Periods for 0.00
which no allocation was previously made
Total interest due to the Class A-4 Noteholders 113,792.43
Available Amounts allocated to interest due to the Class A-4 113,792.43
Noteholders
Class A-4 Principal Payment Amount 0.00
Class A-4 Additional Principal 0.00
Available Amounts allocated to Principal due to the Class A-4 0.00
Noteholders
Total payment to the Class A-4 Noteholders 113,792.43
Class A-4 Principal Amount outstanding at the end of the 27,104,192.00
Collection Period
Class B Noteholders:
Initial Class B Principal Amount 6,160,044.00
Class B Principal Amount outstanding at the beginning of 6,160,044.00
the Collection Period
Class B Percentage 4.12655%
Class B Interest Rate 7.26000%
Class B interest for the current Collection Period 27,330.06
Class B interest accrued in prior Collection Periods for 0.00
which no allocation was previously made
Total interest due to the Class B Noteholders 27,330.06
Available Amounts allocated to interest due to the Class B 27,330.06
Noteholders
Class B Target Investor Principal Amount 0.00
Class B Floor 0.00
Class B Principal Payment Amount 0.00
Class B Additional Principal 0.00
Available Amounts allocated to Principal due to the Class B 0.00
Noteholders
Total payment to the Class B Noteholders 27,330.06
Class B Principal Amount outstanding at the end of the 6,160,044.00
Collection Period
ORIX Credit Alliance Receivables Trust 1999-A
Page 3 Monthly Servicer Report 10-Dec-99
I. PAYMENTS TO NOTEHOLDERS (continued)
Class C Noteholders:
Initial Class C Principal Amount 3,080,022.00
Class C Principal Amount outstanding at the beginning of the 3,080,022.00
Collection Period
Class C Percentage 2.06327%
Class C Interest Rate 7.80000%
Class C interest for the current Collection Period 14,681.44
Class C interest accrued in prior Collection Periods for which 0.00
no allocation was previously made
Total interest due to the Class C Noteholders 14,681.44
Available Amounts allocated to interest due to the Class C 14,681.44
Noteholders
Class C Target Investor Principal Amount 0.00
Class C Floor 0.00
Class C Principal Payment Amount 0.00
Class C Additional Principal 0.00
Available Amounts allocated to Principal due to the Class C 0.00
Noteholders
Total payment to the Class C Noteholders 14,681.44
Class C Principal Amount outstanding at the end of the 3,080,022.00
Collection Period
Total amounts distributed on the Notes 6,837,333.06
J. DISDISTRIBUTION OF FUNDS
Available Amounts 8,041,207.08
Unreimbursed Servicer Advances 0.00
Indenture Trustee fee for transition to Successor Servicer 0.00
Servicing Fee 171,112.00
Class A-1 Interest 209,855.37
Class A-2 Interest 152,225.80
Class A-3 Interest 301,907.44
Class A-4 Interest 113,792.43
Class B Interest 27,330.06
Class C Interest 14,681.44
Available Funds After Servicing & Interest Payments 7,050,302.54
Class A-1 Principal Amount 6,017,540.52
Class A-2 Principal Amount 0.00
Class A-3 Principal Amount 0.00
Class A-4 Principal Amount 0.00
Class B Principal Amount 0.00
Class C Principal Amount 0.00
Available Funds After Principal Payments 1,032,762.02
Class A-1 Additional Principal Amount 0.00
Class A-2 Additional Principal Amount 0.00
Class A-3 Additional Principal Amount 0.00
Class A-4 Additional Principal Amount 0.00
Class B Additional Principal Amount 0.00
Class C Additional Principal Amount 0.00
Available Funds After Additional Principal Payments 1,032,762.02
Reserve Fund to maintain Required Reserve Amount 1,032,762.02
Spread Account (if a Spread Event exists) 0.00
Indenture Trustee 0.00
Remaining Amounts to the Holder of the Certificate 0.00
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.
ORIX Credit Alliance Receivables Corporation II
By: /s/ Joseph J. McDevitt, Jr.
Name: Joseph J. McDevitt, Jr.
Title: President and Chief Financial Officer
Dated: 30-Nov-99
