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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):
July 13, 2000
NAVISTAR FINANCIAL SECURITIES CORPORATION
(Exact name of registrant as specified in its charter)
NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST
(Issuer with respect to the Certificates)
Delaware
(Registrant's state or other Jurisdiction of Incorporation)
333-32960
(Commission File Number)
36-3731520
(Registrant's I.R.S. Employer Identification No.)
Navistar Financial Securities Corporation
2850 W. Golf Road
Rolling Meadows, IL 60008
(Address of principal executive offices of registrant, including Zip Code)
Registrant's telephone number, including area code: (847) 734-4000
Former name or former address, if changed since last report: Not applicable
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Item 5. Other Events
On July 13, 2000, the Navistar Financial Dealer Note Master Trust issued a
series of certificates designated the Floating Rate Dealer Note Asset Backed
Certificates, Series 2000-1. The Series 2000-1 Certificates include two classes
of Certificates: the Class A Certificates and the Class B Certificates. The
principal characteristics of the Series 2000-1 Certificates are as follows:
Number of classes within Series 2000-1: Two
Class A Initial Invested Amount: $200,000,000
Class B Initial Invested Amount: $12,000,000
Total Initial Invested Amount: $212,000,000
Class A Certificate Rate: LIBOR + 0.25%
Class B Certificate Rate: LIBOR + 0.55%
Closing Date: July 13, 2000
Expected Principal Payment Date: June 27, 2005
Series Termination Date: June 25, 2008
Ordinary means of principal repayment: Accumulation Period
Accumulation Period Commencement Date: A date within nine months prior
to the Expected Principal Payment Date, as determined by the Servicer
Primary source of credit enhancement for Class A Certificates:
Subordination of Class B Certificates and Seller's Certificates
Primary source of credit enhancement for Class B Certificates:
Subordination of Seller's Certificates
Subordination Percentage: 9.00% of Total Initial Invested Amount
Servicing Fee Percentage: 1.0%
The terms of the Series 2000-1 Certificates and the definitions of
capitalized terms may be found in the Series 2000-1 Supplement to the Pooling
and Servicing Agreement and the Underwriting Agreement, each of which is
attached as an exhibit to this report.
Navistar Financial Securities Corporation, as Seller, Navistar Financial
Corporation, as Servicer, and The Bank of New York, as Master Trust Trustee
executed Amendment No. 5 to the Pooling and Servicing Agreement on July 13,
2000, which is attached as an exhibit to this report.
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
Exhibit No. Description
Exhibit 1.1 Underwriting Agreement, dated as of June 28, 2000.
Exhibit 4.1 Series 2000-1 Supplement, dated as of July 13, 2000, to Pooling
and Servicing Agreement.
Exhibit 4.2 Amendment No. 5, dated as of July 13, 2000, to Pooling and
Servicing Agreement.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NAVISTAR FINANCIAL SECURITIES
CORPORATION, as Co-Registrant and as Seller
on behalf of the NAVISTAR FINANCIAL DEALER
NOTE MASTER TRUST, as Co-Registrant
Dated: July 13, 2000 By: /s/ R. Wayne Cain
---------------------------------
R. Wayne Cain
Its: Vice President and Treasurer
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INDEX OF EXHIBITS
Exhibit No. Exhibit
Exhibit 1.1 Underwriting Agreement, dated as of June 28, 2000.
Exhibit 4.1 Series 2000-1 Supplement, dated as of July 13, 2000, to Pooling
and Servicing Agreement.
Exhibit 4.2 Amendment No. 5, dated as of July 13, 2000, to Pooling and
Servicing Agreement.
