<PAGE>
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 28, 2000
PRUDENTIAL SECURITIES SECURED FINANCING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 333-37256 13-3526694
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
One New York Plaza 10292
New York, New York (Zip Code)
(Address of Principal
Executive Offices)
Registrant's telephone number, including area code: (212) 778-1000
No Change
-------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 2. Acquisition or Disposition of Assets
Description of the Notes and the Mortgage Loans
Prudential Securities Secured Financing Corporation registered
issuances of up to $2,000,000,000 principal amount of Mortgage-Backed Notes on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, as amended (the "Act"), by the Registration Statements on Form S-3
(Registration File No. 333-37256) (as amended, the "Registration Statement").
Pursuant to the Registration Statement, ABFS Mortgage Loan Trust 2000-3 (the
"Trust") issued approximately $150,000,000 in aggregate principal amount of its
Mortgage-Backed Notes (the "Notes"), on September 28, 2000. This Current Report
on Form 8-K is being filed to satisfy an undertaking to file copies of certain
agreements executed in connection with the issuance of the Notes, the forms of
which were filed as Exhibits to the Registration Statement.
The Notes were issued pursuant to an Indenture (the "Indenture")
attached hereto as Exhibit 4.1, dated as of September 1, 2000, between ABFS
Mortgage Loan Trust 2000-3 (the "Trust") and The Chase Manhattan Bank, in its
capacity as indenture trustee (the "Indenture Trustee"). The Notes consist of
one class of senior notes, the Class A Notes (the "Class A Notes") and one class
of Trust Certificates (the "Trust Certificates"). Only the Class A Notes were
offered. The Notes initially evidenced, in the aggregate, 100% of the undivided
beneficial ownership interests in the Trust.
The assets of the Trust consist primarily of fixed-rate business and
consumer purpose residential home equity or commercial loans (the "Mortgage
Loans") secured by first or second lien mortgages on residential real
properties, and to a limited extent, loan secured by commercial real properties.
Interest distributions on the Class A Notes are based on the Notes
Principal Balance thereof and the then applicable Mortgage-Backed Rate thereof.
The Mortgage Rate for the Class A Notes is 7.610% per annum.
The Class A Notes have an original Note Principal Balance of
$150,000,000.
As of the Closing Date, the Mortgage Loans possessed the
characteristics described in the Prospectus dated August 11, 2000 and the
Prospectus Supplement dated September 8, 2000 filed pursuant to Rule 424(b) (5)
of the Act on September 25, 2000.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
1.1 Underwriting Agreement, dated September 8, 2000, between
Prudential Securities Secured Financing Corporation and
Prudential Securities Incorporated.
2
<PAGE>
1.2 Indemnification Agreement, dated as of September 28, 2000,
among Prudential Securities Secured Financing Corporation,
Prudential Securities Incorporated, and Ambac Assurance
Corporation.
4.1 Indenture, dated as of September 1, 2000, between ABFS
Mortgage Loan Trust 2000-3 and The Chase Manhattan Bank, as
indenture trustee.
4.2 Unaffiliated Seller's Agreement, dated as of September 1,
2000, among American Business Credit, Inc., HomeAmerican
Credit, Inc. d/b/a/ Upland Mortgage, New Jersey Mortgage
and Investment Corp., Prudential Securities Secured
Financing Corporation, and ABFS 2000-3, Inc.
4.3 Sale and Servicing Agreement, dated as of September 1,
2000, among Prudential Securities Secured Financing
Corporation, American Business Credit, Inc., ABFS Mortgage
Loan Trust 2000-3 and The Chase Manhattan Bank.
8.1 Opinion of Brown & Wood LLP, Counsel to Prudential
Securities Secured Corporation regarding certain tax
matters.
10.1 Note Insurance Policy, dated September 28, 2000.
3
<PAGE>
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.
PRUDENTIAL SECURITIES SECURED
FINANCING CORPORATION
As Depositor and on behalf
of ABFS Mortgage Loan Trust 2000-3
Registrant
By: /s/ Evan Mitnick
--------------------------
Name: Evan Mitnick
Title: Vice President
Dated: September 29, 2000
<PAGE>
EXHIBIT INDEX
Exhibit No. Description
1.1 Underwriting Agreement, dated September 8, 2000, between Prudential
Securities Secured Financing Corporation and Prudential Securities
Incorporated.
1.2 Indemnification Agreement, dated September 28, 2000, among Prudential
Securities Secured Financing Corporation, Prudential Securities
Incorporated, American Business Credit, and Ambac Assurance
Corporation.
4.1 Indenture, dated as of September 1, 2000, between ABFS Mortgage Loan
Trust 2000-3 and The Chase Manhattan Bank, as indenture trustee.
4.2 Unaffiliated Seller's Agreement, dated as of September 1, 2000, among
American Business Credit, Inc., HomeAmerican Credit, Inc. d/b/a/
Upland Mortgage, New Jersey Mortgage and Investment Corp., Prudential
Securities Secured Financing Corporation, and ABFS 2000-3, Inc.
4.3 Sale and Servicing Agreement, dated as of September 1, 2000, among
Prudential Securities Secured Financing Corporation, American
Business Credit, Inc., ABFS Mortgage Loan Trust 2000-3 and The Chase
Manhattan Bank.
8.1 Opinion of Brown & Wood LLP, Counsel to Prudential Securities Secured
Corporation regarding certain tax matters.
10.1 Note Insurance Policy, dated September 28, 2000.
