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): 3/31/00
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 February 29, 2000, 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, 188,228,400.88
beginning of Collection Period
Less: Principal Payments 5,810,961.50
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 182,417,439.88
Collection Period
B. SERVICER ADVANCES
Aggregate amount of Servicer Advances at the beginning of the 1,853,594.19
Collection Period
Servicer Advances made during the Collection Period 163,670.43
Servicer Advances reimbursed during the Collection Period 0.00
Aggregate amount of Servicer Advances at the end of the 2,016,824.05
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 4,784,250.73
Required Reserve Fund Amount 5,441,723.00
Shortfall 658,472.27
Deposit from (release to) waterfall 251,387.91
Reserve Fund balance, end of Collection Period 5,034,638.64
F. AVAILABLE AMOUNTS
Principal collections 5,810,961.50
Interest collections 1,360,927.18
Late Charges 26,109.18
Recoveries 0.00
Reinvestment Income from Collection Account, 45,151.88
Reserve Fund and Spread Fund
Amounts in Spread Fund 0.00
Amounts withdrawn from Reserve Fund 0.00
Total Available Amounts 7,243,149.74
G. SPREAD FUND CALCULATION
ORIX Credit Alliance, Inc. as Servicer (Yes/No) Yes
Three Month Delinquency Percentage (may not exceed 5.0%) 0.11%
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 days14,232,180.78
Aggregate Principal Balance of Contracts Delinquent > than 61 days 3,081,926.18
Aggregate Principal Balance of Contracts Delinquent > than 91 days 1,212,766.30
ORIX Credit Alliance Receivables Trust 1999-A
Page 2 Monthly Servicer Report 10-Mar-00
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 177,961,662.20
Collection Period
Class A Percentage 93.12242%
Class A Target Investor Principal Amount 168,871,534.00
Class A Principal Payment Amount 8,090,128.20
Class A-1 Noteholders:
Initial Class A-1 Principal Amount 56,056,397.00
Class A-1 Principal Amount outstanding at the beginning 38,950,011.20
of the Collection Period
Class A-1 Interest Rate 6.125968%
Class A-1 interest for the current Collection Period 192,210.81
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 192,210.81
Available Amounts allocated to interest due to the Class A-1 192,210.81
Noteholders
Class A-1 Principal Payment Amount 5,810,961.50
Class A-1 Additional Principal 0.00
Available Amounts allocated to Principal due to the Class A-1 5,810,961.50
Noteholders
Total payment to the Class A-1 Noteholders 5,810,961.50
Class A-1 Principal Amount outstanding at the end of the 33,139,049.70
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 207,580.64
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 207,580.64
Available Amounts allocated to interest due to the Class A-2 207,580.64
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 207,580.64
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 411,691.97
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 411,691.97
Available Amounts allocated to interest due to the Class A-3 411,691.97
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 411,691.97
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 155,171.50
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 155,171.50
Available Amounts allocated to interest due to the Class A-4 155,171.50
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 155,171.50
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 37,268.27
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 37,268.27
Available Amounts allocated to interest due to the Class B 37,268.27
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 37,268.27
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-Mar-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 20,020.14
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 20,020.14
Available Amounts allocated to interest due to the Class C 20,020.14
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 20,020.14
Class C Principal Amount outstanding at the end of the 3,080,022.00
Collection Period
Total amounts distributed on the Notes 6,834,904.83
J. DISDISTRIBUTION OF FUNDS
Available Amounts 7,243,149.74
Unreimbursed Servicer Advances 0.00
Indenture Trustee fee for transition to Successor Servicer 0.00
Servicing Fee 156,857.00
Class A-1 Interest 192,210.81
Class A-2 Interest 207,580.64
Class A-3 Interest 411,691.97
Class A-4 Interest 155,171.50
Class B Interest 37,268.27
Class C Interest 20,020.14
Available Funds After Servicing & Interest Payments 6,062,349.41
Class A-1 Principal Amount 5,810,961.50
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 251,387.91
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 251,387.91
Reserve Fund to maintain Required Reserve Amount 251,387.91
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: 31-Mar-00
