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Previous: PANGAEA COMMUNICATIONS INC, 10KSB/A, 2000-04-17 |
Next: PIONEER INVESTMENT MANAGEMENT INC, 13F-HR, 2000-04-17 |
<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
April 12, 2000
ADVANTA BANK CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C> <C>
Utah 333-93915 23-2597173
- --------------------------------------- ---------------- -------------------------------
(State or Other (Commission File (I.R.S. Employer Identification
Jurisdiction of Incorporation) Number) No.)
11850 South Election Drive
Draper, UT 84020 84144
- --------------------------------------- ------------------------------
(Address of Principal Executive Offices) (Zip Code)
</TABLE>
Registrant's telephone number, including area code (801) 523-0858
--------------
No Change
-----------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
Item 7. Financial Statements and Exhibits
The following exhibit is furnished herewith:
21 Monthly Servicer's Certificate issued on April 12, 2000
relating to the Equipment Receivables Asset-Backed Notes,
Series 2000-1, prepared by the Servicer and sent to the
Trustee pursuant to Section 2.01(a) of the Series 2000-1
Transfer and Servicing agreement dated as of March 1, 2000
covering the period of March 1, 2000 through March 31, 2000.
3
<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 thereunto duly authorized.
ADVANTA BANK CORP.,
As Registrant
By /s/ KIRK WEILER
----------------------------
Name: Kirk Weiler
Title: VP of Finance
Dated: April 12, 2000
4
<PAGE> 4
Exhibit Index
<TABLE>
<CAPTION>
Exhibit No. Page
- ----------- ----
<S> <C> <C>
21.1 Monthly Servicer's Certificate dated April 12, 2000 8
prepared by the Servicer and sent to the Trustee
pursuant to Section 2.01 (a) of the Series 2000-1
Transfer and Servicing Agreement covering the period
of March 1, 2000 through March 31, 2000.
</TABLE>
6
<PAGE> 1
ASSET-BACKED FINANCING FACILITY
ADVANTA BANK CORP.
MONTHLY SERVICER
CERTIFICATE
COLLECTION PERIOD: MARCH 1, 2000 - MARCH 31, 2000
-------------------------------
SETTLEMENT DATE: 17-APR-00
A. SERIES INFORMATION:
ADVANTA EQUIPMENT LEASING RECEIVABLES SERIES 2000-1 LLC
SERIES 2000-1
<TABLE>
<CAPTION>
I. AGGREGATE CONTRACT PRINCIPAL BALANCE:
<S> <C> <C> <C>
(a.) Beginning Aggregate Contract Principal Balance $470,253,514.54
(b.) Contract Principal Balance of all Collections
allocable to Contracts $ 13,633,547.19
(c.) Contract Principal Balance of Charged-Off Contracts $ 267,749.77
(d.) Ending Aggregate Contract Principal Balance of all
Contracts as of this Settlement Date $456,352,217.58
BALANCES ON THIS PAYMENT DATE: (AFTER PRINCIPAL
PAYMENTS MADE FOR THIS RELATED COLLECTION PERIOD)
(e.) Class A Principal Balance as of this
Settlement Date (Class A Note Factor) 0.9701610 $319,354,674.43
(e1.) Ending Class A-1 Principal Balance 0.9458183 $ 171,462,674.43
(e2.) Ending Class A-2 Principal Balance 1.0000000 $ 63,269,000.00
(e3.) Ending Class A-3 Principal Balance 1.0000000 $ 84,623,000.00
(f.) Ending Class B Principal Balance as of this
Settlement Date (Class B Note Factor) 0.9701610 $ 27,373,091.52
(g.) Ending Class C Principal Balance as of this
Settlement Date (Class C Note Factor) 0.9701610 $ 18,248,727.71
(h.) Ending Class D Principal Balance as of this
Settlement Date (Class D Note Factor) 0.9701610 $ 9,124,363.86
(i.) Ending Class E Principal Balance as of this
Settlement Date (Class E Note Factor) 0.9704387 $ 22,816,955.09
(j.) Ending Class F Principal Balance as of this
Settlement Date (Class F Note Factor) 0.9704387 $ 59,327,300.68
II. COMPLIANCE RATIOS:
(a.) Aggregate Contract Balance Remaining ("CBR")
of all Contracts $531,748,297.29
(b.) CBR of Contracts 1 - 30 days delinquent $ 57,166,938.61
(c.) % of Delinquent Contracts 1- 30 days as of
the related Calculation Date 10.75%
(d.) CBR of Contracts 31 - 60 days delinquent $ 23,509,124.53
(e.) % of Delinquent Contracts 31- 60 days as of
the related Calculation Date 4.42%
(f.) CBR of Contracts 61 - 90 days delinquent $ 10,175,436.51
(g.) % of Delinquent Contracts 61- 90 days as of
the related Calculation Date 1.91%
(h.) CBR of Contracts 91 - 120 days delinquent $ 4,472,751.15
(i.) % of Delinquent Contracts 91- 120 days as of
the related Calculation Date 0.84%
(j1.) % of Delinquent Contracts 31 days or more as of
the related Calculation Date 7.18%
(j2.) Month 2: N/A
(j3.) Month 3: N/A
(j4.) Three month rolling average % of Delinquent
Contracts 31 days or more N/A
(k1.) Net Charge-Off % for the related Collection
Period (annualized 30/360) #REFl
(k2.) Month 2: N/A
(k3.) Month 3: N/A
(k4.) Three month rolling average % for Defaulted Contracts N/A
</TABLE>
Page 1 of 4
<PAGE> 2
<TABLE>
<S> <C> <C> <C>
(l1.) Cumulative Net Loss Percentage
(l2.) Does the Cumulative Net Loss % exceed 0.022%
---------------
(l3.) The Loss Trigger Level % from Beginning Period to and
including 12th Collection Period ? . Y or N NO
---------------
(l4.) The Loss Trigger Level % from 13th Collection Period
to and including 24th Collection Period ? .Y or N. N/A
---------------
(l5.) The Loss Trigger Level % from 25th Collection Period
and thereafter ? Y or N N/A
---------------
(m5.) Is there currently a Trigger Event which has not
been cured for this payment date.....Y or N NO
---------------
(m5.) Is there currently an Event of Default for this
payment date Y or N NO
---------------
III. FLOW OF FUNDS:
(1.) The amount on deposit in Available Funds $ 20,463,165.64
---------------
(2.) Amounts deposited, if any, by the Servicer to the
Collection Account for contracts repurchased -
---------------
(3.) Total deposits in the Collection Account to be used
as available funds on this Payment Date (1+2) $ 20,463,165.64
---------------
(4.) Funds to the servicer, any Excluded Amounts-
Residual Receipts $ 214,867.98
---------------
(a.) To the Trustee, trustee fees and expenses subject
to an annual limit $ 5,000.00
---------------
(b.) To the Servicer, any unrecoverable servicer
advances / initial unpaid balance amounts $ 2,897,000.35
---------------
(c.) To the Servicer, the servicing fee then due and
miscellaneous amounts, if any $ 391,877.93
---------------
TO SERIES 2000-1 NOTEHOLDERS INCLUDING RETAINED
INTEREST HOLDERS: INTEREST
(d.) To Class A, the total Class A Note Interest for
the related interest accrual period. $ 1,033,552.88
---------------
Interest on Class A-1 Notes $ 551,071.96
------------
Interest on Class A-2 Notes $ 203,994.63
------------
Interest on Class A-3 Notes $ 278,486.29
(e.) Interest on Class B Notes for the related
interest accrual period $ 94,796.47
---------------
(f.) Interest on Class C Notes for the related
interest accrual period $ 64,242.58
---------------
(g.) Interest on Class D Notes for the related
interest accrual period $ 33,500.61
---------------
CLASS E INTEREST:
(h1.) If Class E Noteholder is not Originator, then
Interest on Class E Notes for the related
interest accrual period or otherwise $0. -
---------------
(h2.) If Class E Noteholder is Originator, then
amount in (h1) from above to be paid as
additional principal pro rata among the
Class A, Class B, Class C and Class D
notes or otherwise $0 $ 107,103.53
------------
TO SERIES 2000-1 NOTEHOLDERS INCLUDING RETAINED
INTEREST HOLDERS: PRINCIPAL
(i1.) Class A percentage 0.69999903
--------------
(i2.) To Class A, amount from reserve account, if any -
--------------
(i3.) To Class A, the Class A overdue principal, if any -
--------------
(i4.) To Class A, the Class A monthly principal payment amount $ 9,730,894.95
--------------
(i5.) To Class A, the additional principal, if any,
allocable from Class E interest amount $ 91,429.92
--------------
(i6.) To Class A, the additional principal, if any,
allocable from Class F floor amount -
--------------
(i7.) Total principal payment to Class A (i2-i6) $ 9,822,325.57
--------------
(i8.) Principal payment to Class A-1 Noteholders $ 9,822,325.57
---------------
(i9.) Principal payment to Class A-2 Noteholders -
---------------
(i10.) Principal payment to Class A-3 Noteholders -
---------------
(j1.) Class B percentage 0.059999551
--------------
(j2.) To Class B, amount from reserve account, if any -
--------------
(j3.) To Class B, the Class B overdue principal, if any -
--------------
(j4.) To Class B, the Class B monthly principal payment amount $ 834,071.62
--------------
(j5.) To Class B, the additional principal, if any,
allocable from Class E interest amount $ 7,836.80
--------------
(j6.) To Class B, the additional principal, if any,
allocable from Class F floor amount -
--------------
(j7.) Total principal payment to Class B Noteholders (j2-j6) $ 841,908.48
---------------
(k1.) Class C percentage 0.039999701
--------------
(j2.) To Class C, amount from reserve account, if any -
--------------
(k3.) To Class C, the Class C overdue principal, if any -
--------------
(k4.) To Class C, the Class C monthly principal payment amount $ 556,047.75
--------------
(k5.) To Class C, the additional principal, if any,
allocable from Class E interest amount $ 5,224.54
--------------
(k6.) To Class C, the additional principal, if any,
allocable from Class F floor amount -
--------------
(k7.) Total principal payment to Class C Noteholders (k2-k6) $ 561,272.29
---------------
</TABLE>
Page 2 of 4
<PAGE> 3
<TABLE>
<S> <C> <C> <C>
(l1.) Class D percentage 0.01999985
--------------
(l2.) To Class D, amount from reserve account, if any -
--------------
(l3.) To Class D, the Class D overdue principal, if any -
--------------
(l4.) To Class D, the Class D monthly principal payment amount $ 278,023.87
--------------
(l5.) To Class D, the additional principal, if any,
allocable from Class E interest amount $ 2,612.27
--------------
(l6.) To Class D, the additional principal, if any,
allocable from Class F floor amount -
--------------
(l7.) Total principal payment to Class D Noteholders (l2-l6) $ 280,636.14
---------------
(m1.) Class E percentage 0.049998563
--------------
(m2.) To Class E, amount from reserve account, if any -
--------------
(m3.) To Class E, the Class E overdue principal, if any -
--------------
(m4.) To Class E, the Class E monthly principal payment amount $ 695,044.91
--------------
(m5.) To Class E, the additional principal, if any,
allocable from Class F floor amount -
--------------
(m6.) Total principal payment to Class E Noteholders (m2-m5) $ 695,044.91
---------------
TO THE RESERVE ACCOUNT:
(4.) The amount, if any, needed to maintain the amount
in the reserve account at the required reserve amount $ -
---------------
(5.) Sub-Total of funds disbursed through payment to
Class E (add 1, 2, 3 & 4) $ -
---------------
(6.) Funds available to be paid to Class F (3 less 5) $ -
---------------
CLASS F PAYMENTS:
(n1.) Class F percentage 0.130003314
--------------
(n2.) Class F floor amount $ 9,405,070.31
--------------
(n3.) Class F principal balance before payment of principal
on this payment date $ 61,134,515.34
--------------
(n4.) If Funds available to be paid to Class F (line 6) is
greater than $0, then payment as follows:
(n5.) If principal balance (n3) is greater than Class F
floor (n2) then to Class F in an amount equal to
the lesser of (a) Class F monthly principal amount
until the Class F principal balance has been reduced
to the Class F floor amount and (b) funds available $ 1,807,214.66
---------------
(n6.) If amount in line (n5) is greater than $0, skip (n7)
and go to (o1):
(n7.) If Funds available to be paid to Class F (line 6)
is $0, then no payments to Class F and enter $0
---------------
TO THE TRUSTEE:
(7.) To the Trustee, any fees and expenses not previously
paid subject to a limit
---------------
TO THE ISSUERS:
(8.) To the issuers, as owner of the pledged assets, any
remaining available funds on deposit in the collection
account after all payments are made above $ 1,719,924.79
---------------
IV. SERVICER ADVANCES
(a.) Aggregate amount of Servicer Advances at the beginning
of the Collection Period $ -
---------------
(b.) Servicer Advances reimbursed during the Collection Period $ -
---------------
(c.) Amount of unreimbursed Service Advances to be reimbursed
on the Settlement Date -
---------------
(d.) Servicer Advances made during the related Collection
Period $ 3,010,438.20
---------------
(e.) Aggregate amount of Servicer Advances at the end of the
Collection Period $ 3,010,438.20
---------------
(f.) Amount of delinquent Scheduled Payments for which
Servicer Advances were not made -
---------------
V. RESERVE ACCOUNT
(a.) Amount on deposit at the beginning of the related
Collection Period
(b.) Reserve Account initial deposit $ 4,702,535.15
---------------
(c.) Amount of interest earnings reinvested for the
related Monthly Period $ -
---------------
(d.) Amounts used to cover shortfalls, if any, for the
related Collection Period $ -
---------------
(e.) Amounts used as required in a Trigger Event, if
any, for the related Collection Period $ -
---------------
(f.) Amounts transferred in from the Collection Account,
if applicable (line 4) $ -
---------------
(g.) Interest earnings for the related Monthly Period $ 2,295.02
---------------
(h.) Interest earnings withdrawn and included as
Available Funds for the related Monthly Period $ 2,295.02
---------------
(i.) Amount on deposit at the end of the related
Collection Period $ 4,702,535.15
---------------
(j.) Is the Required Reserve Amount equal to the balance
in the Reserve Account as of the related Collection
period? Y or N Y
---------------
</TABLE>
Page 3 of 4
<PAGE> 4
<TABLE>
<S> <C> <C> <C>
VI. ADVANCE PAYMENTS
(a.) Beginning aggregate Advance Payments $ -
---------------
(b.) Add: Amount of Advance Payments collected during the
related Collection Period $ 6,030,726.29
---------------
(c.) Add: Investment earnings for the related Collection
Period $ -
---------------
(d.) Less: Amount of Advance Payments withdrawn for deposit
into Facility Account $ 2,716,996.66
---------------
(e.) Ending aggregate Advance Payments $ 3,313,729.63
---------------
</TABLE>
ADVANTA BANK CORP., AS SERVICER
BY: /s/ KIRK WEILER
TITLE: VP of Finance
DATE: 04/12/00
Page 4 of 4
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