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
May 15, 2000
(Date of earliest event reported)
DEUTSCHE FLOORPLAN RECEIVABLES, L.P.
(Exact name of registrant as specified in its amended charter)
DISTRIBUTION FINANCIAL SERVICES FLOORPLAN MASTER TRUST
(Co-Registrant and Issuer with Respect to the Securities)
Delaware 333-74457 and 333-74457-01 88-0355652
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Numbers) identification No.)
655 Maryville Centre Drive
St. Louis, Missouri 63141
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (314) 523-3000
Item 5. Other Events.
Copies of the monthly Certificateholders' Statements are being filed as
Exhibits 1, 2 and 3 to this Current Report on Form 8-K.
Item 7.(c). Exhibits.
Exhibit Description
Ex-1 Distribution Financial Services Floorplan Master Trust
Distribution Date Statement - Series 2000-1
Reporting for period ending 4/30/2000
Ex-2 Distribution Financial Services Floorplan Master Trust
Distribution Date Statement - Series 2000-2
Reporting for period ending 4/30/2000
Ex-3 Distribution Financial Services Floorplan Master Trust
Compliance/Statistical Reporting
Reporting for period ending 4/30/2000.
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.
DEUTSCHE FLOORPLAN RECEIVABLES, L.P.,
on behalf of itself, as Registrant
By: Deutsche Floorplan Receivables, Inc.,
its General Partner
Date: May 25, 2000
By: /s/ Richard C. Goldman
Name: Richard C.Goldman
Title: Senior Vice President and Secretary
DEUTSCHE FLOORPLAN RECEIVABLES, L.P.
on behalf of Distribution Financial Services Floorplan Master Trust,
as Co-Registant
Date: May 25, 2000
By: /s/ Richard C. Goldman
Name: Richard C. Goldman
Title: Senior Vice President and Secretary
<TABLE>
Deutsche Floorplan Receivables, L.P.
Distribution Financial Services Floorplan Master Trust
Distribution Date Statement
<S> <C>
Report Date 04/30/2000
Collection Period 04/01-04/30/2000
Determination Date 05/11/2000
Distribution Date 05/15/2000
<CAPTION>
Total Series 2000-1 Series 2000-1 Series 2000-1 Series 2000-1
Date Trust Class A Class B Class C Total
<S> <C> <C> <C> <C> <C> <C>
Pool Balance
1 Beginning of month Principal Rec 4/01/2000 3,717,007,382.61
2 Discount Factor 0.50%
3 Beginning of month Pool Balance 4/01/2000 3,698,422,345.70
4 Beginning of month Dealer Overco 4/01/2000 -
5 Beginning of month Unconcentrate 4/01/2000 3,698,422,345.70
6 End of month Principal Receivabl 04/30/2000 3,606,183,821.32
7 Discount Factor 0.50%
8 End of month Pool Balance 04/30/2000 3,588,152,902.21
9 End of month Dealer Overconcentr 04/30/2000 -
10 End of month Unconcentrated Pool 04/30/2000 3,588,152,902.21
11 Overconcentrated Percentage 04/30/2000 0.00%
12 Unconcentrated Percentage 04/30/2000 100.00%
Certificates
13 Beginning of month/closing date 4/27/2000 1,193,750,000.00 37,500,000.00 18,750,000.00 1,250,000,000.00
14 Allocation Percentage 04/27/2000 25.13% 0.79% 0.39% 26.32%
15 End of month Invested Amount 04/30/2000 1,193,750,000.00 37,500,000.00 18,750,000.00 1,250,000,000.00
16 Principal Payments 05/11/2000 - - - -
17 Outstanding Principal Balance 05/15/2000 1,193,750,000.00 37,500,000.00 18,750,000.00 1,250,000,000.00
18 Pool Factor 05/15/2000 1.00000000000 1.00000000000 1.00000000000
Excess Funding Account
19 End of month balance 04/30/2000 -
20 Determination Date deposit 05/11/2000 -
21 Distribution Date disbursement 05/15/2000 -
22 Excess Funding Account balance 05/15/2000 -
Reserve Fund
23 End of month Reserve Fund Amount 04/30/2000 43,750,000.00
24 Reserve Fund Deposits 05/11/2000 -
25 Reserve Fund withdrawals 05/15/2000 -
26 Ending Reserve Fund Amount 05/15/2000 43,750,000.00
Collections
27 Principal Allocation Percentage 04/30/2000 27.13% 0.85% 0.43% 28.40%
28 Floating Allocation Percentage 04/30/2000 27.13% 0.85% 0.43% 28.40%
29 Series Allocation Percentage 04/30/2000 28.40%
30 Principal Collections 04-01-04/30/2000 1,220,895,114.76
31 Nonprincipal Collections 04-01-04/30/2000 34,654,156.64
32 Total Collections 04-01-04/30/2000 1,255,549,271.40
Defaults
33 Defaulted Amount 04-01-04/30/2000 2,011,084.70
34 Investor Default Amount 04-01-04/30/2000 545,515.24 17,136.60 8,568.30 571,220.15
Interest
35 Prior Month's Interest/Program Amount
36 Monthly Interest 05/15/2000 3,780,457.03 123,820.31 67,160.16 3,971,437.50
37 Interest Shortfall 05/15/2000 - - - -
38 Additional Interest 05/15/2000 - - - -
39 Carryover Amount 05/15/2000 - - - -
40 Total 05/15/2000 3,780,457.03 123,820.31 67,160.16 3,971,437.50
Servicing Fee
41 Certificate Balance for Servicin 4/27/2000 1,193,750,000.00 37,500,000.00 18,750,000.00 1,250,000,000.00
42 Servicing Fee Rate 2.00% 2.00% 2.00% 2.00%
43 Servicing Fee 04/27-04/30/2000 198,958.33 6,250.00 3,125.00 208,333.33
44 Servicing Fee Waived 05/15/2000 - - - -
45 Remaining Servicing Fee 05/15/2000 198,958.33 6,250.00 3,125.00 208,333.33
Excess Servicing
46 Nonprincipal Collections 04-01-04/30/2000 34,654,156.64
47 Servicer Advance Less Reimbursem04-01-04/30/2000 1,553,168.11
48 Floating Allocation Percentage 27.13% 0.85% 0.43%
49 Investor Nonprincipal Collection04-01-04/30/2000 9,400,086.80 295,290.68 147,645.34 9,843,022.82
50 Investor portion of Servicer Adv04-01-04/30/2000 421,303.43 13,234.66 6,617.33 441,155.42
51 Plus: Investment Proceeds 04-01-04/30/2000 110,104.17
52 Less:
53 Monthly Interest 05/11/2000 3,780,457.03 123,820.31 67,160.16 3,971,437.50
54 Prior Monthly Interest 05/11/2000 - - - -
55 Additional Interest 05/11/2000 - - - -
56 Reserve Fund Deposit Amount 05/11/2000 -
57 Default Amount 04-01-04/30/2000 545,515.24 17,136.60 8,568.30 571,220.15
58 Charge-Offs 04-01-04/30/2000 - - - -
59 Monthly Servicing Fee 05/11/2000 198,958.33 6,250.00 3,125.00 208,333.33
60 Carry-over Amount 05/11/2000 - - - -
61 Carry-over Amount Additional Int 05/11/2000 - - - -
62 Additional Amounts 05/11/2000 - - - -
63 Yield Supplement Deposit Amount 05/11/2000 5,643,291.43
64 Balance: Excess Servicing 04-01-04/30/2000 -
Collection Account
65 Beginning Balance 04/30/2000 -
66 Deposits 05/11/2000 10,165,988.53
67 Disbursements 05/15/2000 10,165,988.53
68 Ending Balance 05/15/2000 -
Interest Funding Account
69 Beginning Balance 04/30/2000 - - - -
70 Deposits 05/11/2000 3,780,457.03 123,820.31 67,160.16 3,971,437.50
71 Disbursements 05/15/2000 3,780,457.03 123,820.31 67,160.16 3,971,437.50
72 Ending Balance 05/15/2000 - - - -
Principal Funding Account
73 Beginning Balance 04/30/2000 - - - -
74 Controlled Deposit Amount 05/11/2000 - - - -
75 Disbursements 05/15/2000 - - - -
76 Ending Balance 05/15/2000 - - - -
Yield Supplement Account
77 Required Amount 04/30/2000 6,250,000.00
78 Beginning balance 04/30/2000 -
79 Deposit 05/11/2000 5,643,291.43
80 Withdrawal 05/15/2000 -
81 Ending balance 05/15/2000 5,643,291.43
Interest Rate for the Next Interest Period
82 One-month LIBOR 05/15-06/15/2000 6.5225%
83 Net Receivables Rate 04/30/2000 8.8602%
</TABLE>
<TABLE>
Deutsche Floorplan Receivables, L.P.
Distribution Financial Services Floorplan Master Trust
Distribution Date Statement
<S> <C>
Report Date 04/30/2000
Collection Period 4/01/2000 -04/30/2000
Determination Date 05/11/2000
Distribution Date 05/15/2000
<CAPTION>
Total Series 2000-2 Series 2000-2 Series 2000-2 Series 2000-2
Date Trust Class A Class B Class C Total
<S> <C> <C> <C> <C> <C> <C>
Pool Balance
1 Beginning of month Principal Receivables 4/01/2000 3,717,007,382.61
2 Discount Factor 0.50%
3 Beginning of month Pool Balance 4/01/2000 3,698,422,345.70
4 Beginning of month Dealer Overconcentration 4/01/2000 -
5 Beginning of month Unconcentrated Pool Bal. 4/01/2000 3,698,422,345.70
6 End of month Principal Receivables 04/30/2000 3,606,183,821.32
7 Discount Factor 0.50%
8 End of month Pool Balance 04/30/2000 3,588,152,902.21
9 End of month Dealer Overconcentrations 04/30/2000 -
10 End of month Unconcentrated Pool Balance 04/30/2000 3,588,152,902.21
11 Overconcentrated Percentage 04/30/2000 0.00%
12 Unconcentrated Percentage 04/30/2000 100.00%
Certificates
13 Beginning of month/closing date Invested Am 4/27/2000 477,500,000.00 15,000,000.00 7,500,000.00 500,000,000.00
14 Allocation Percentage 04/27/2000 10.05% 0.32% 0.16% 10.53%
15 End of month Invested Amount 04/30/2000 477,500,000.00 15,000,000.00 7,500,000.00 500,000,000.00
16 Principal Payments 05/11/2000 - - - -
17 Outstanding Principal Balance 05/15/2000 477,500,000.00 15,000,000.00 7,500,000.00 500,000,000.00
18 Pool Factor 05/15/2000 1.00000000000 1.00000000000 1.00000000000
Excess Funding Account
19 End of month balance 04/30/2000 -
20 Determination Date deposit 05/11/2000 -
21 Distribution Date disbursement 05/15/2000 -
22 Excess Funding Account balance 05/15/2000 -
Reserve Fund
23 End of month Reserve Fund Amount 04/30/2000 17,500,000.00
24 Reserve Fund Deposits 05/11/2000 -
25 Reserve Fund withdrawals 05/15/2000 -
26 Ending Reserve Fund Amount 05/15/2000 17,500,000.00
Collections
27 Principal Allocation Percentage 04/30/2000 10.85% 0.34% 0.17% 11.36%
28 Floating Allocation Percentage 04/30/2000 10.85% 0.34% 0.17% 11.36%
29 Series Allocation Percentage 04/30/2000 11.36%
30 Principal Collections 4/01/2000 - 04/30/2000 1,220,895,114.76
31 Nonprincipal Collections 4/01/2000 - 04/30/2000 34,654,156.64
32 Total Collections 4/01/2000 - 04/30/2000 1,255,549,271.40
Defaults
33 Defaulted Amount 4/01/2000 - 04/30/2000 2,011,084.70
34 Investor Default Amount 4/01/2000 - 04/30/2000 218,206.10 6,854.64 3,427.32 228,488.06
Interest
35 Prior Month's Interest/Program Amount
36 Monthly Interest 05/15/2000 1,531,282.81 50,128.13 27,051.56 1,608,462.50
37 Interest Shortfall 05/15/2000 - - - -
38 Additional Interest 05/15/2000 - - - -
39 Carryover Amount 05/15/2000 - - - -
40 Total 05/15/2000 1,531,282.81 50,128.13 27,051.56 1,608,462.50
Servicing Fee
41 Certificate Balance for Servicing Fee deter 4/27/2000 477,500,000.00 15,000,000.00 7,500,000.00 500,000,000.00
42 Servicing Fee Rate 2.00% 2.00% 2.00% 2.00%
43 Servicing Fee 04/27/2000 04/30/2000 79,583.33 2,500.00 1,250.00 83,333.33
44 Servicing Fee Waived 05/15/2000 - - - -
45 Remaining Servicing Fee 05/15/2000 79,583.33 2,500.00 1,250.00 83,333.33
Excess Servicing
46 Nonprincipal Collections 4/01/2000 - 04/30/2000 34,654,156.64
47 Servicer Advance Less Reimbursem4/01/2000 - 04/30/2000 1,553,168.11
48 Floating Allocation Percentage 10.85% 0.34% 0.17%
49 Investor Nonprincipal Collection4/01/2000 - 04/30/2000 3,760,034.72 118,116.27 59,058.14 3,937,209.13
50 Investor portion of Servicer Adv4/01/2000 - 04/30/2000 168,521.37 5,293.87 2,646.93 176,462.17
51 Plus: Investment Proceeds 4/01/2000 - 04/30/2000 44,041.67
52 Less:
53 Monthly Interest 05/11/2000 1,531,282.81 50,128.13 27,051.56 1,608,462.50
54 Prior Monthly Interest 05/11/2000 - - - -
55 Additional Interest 05/11/2000 - - - -
56 Reserve Fund Deposit Amount 05/11/2000 -
57 Default Amount 4/01/2000 - 04/30/2000 218,206.10 6,854.64 3,427.32 228,488.06
58 Charge-Offs 4/01/2000 - 04/30/2000 - - - -
59 Monthly Servicing Fee 05/11/2000 79,583.33 2,500.00 1,250.00 83,333.33
60 Carry-over Amount 05/11/2000 - - - -
61 Carry-over Amount Additional Interest 05/11/2000 - - - -
62 Additional Amounts 05/11/2000 - - - -
63 Yield Supplement Deposit Amount 05/11/2000 2,237,429.08
64 Balance: Excess Servicing 4/01/2000 - 04/30/2000 -
Collection Account
65 Beginning Balance 04/30/2000 -
66 Deposits 05/11/2000 4,066,395.42
67 Disbursements 05/15/2000 4,066,395.42
68 Ending Balance 05/15/2000 -
Interest Funding Account
69 Beginning Balance 04/30/2000 - - - -
70 Deposits 05/11/2000 1,531,282.81 50,128.13 27,051.56 1,608,462.50
71 Disbursements 05/15/2000 1,531,282.81 50,128.13 27,051.56 1,608,462.50
72 Ending Balance 05/15/2000 - - - -
Principal Funding Account
73 Beginning Balance 04/30/2000 - - - -
74 Controlled Deposit Amount 05/11/2000 - - - -
75 Disbursements 05/15/2000 - - - -
76 Ending Balance 05/15/2000 - - - -
Yield Supplement Account
77 Required Amount 04/30/2000 2,500,000.00
78 Beginning balance 04/30/2000 -
79 Deposit 05/11/2000 2,237,429.08
80 Withdrawal 05/15/2000 -
81 Ending balance 05/15/2000 2,237,429.08
Interest Rate for the Next Interest Period
82 One-month LIBOR 05/15/2000 06/15/2000 6.5225%
83 Net Receivables Rate 04/30/2000 8.8602%
</TABLE>
<TABLE>
Deutsche Floorplan Receivables, L.P.
Distribution Financial Services Floorplan Master Trust
Compliance/Statistical Reporting
For the Period Ending 04/30/2000
<S> <C>
Calculation Of Pool Balance
1 Total "Office" Receivables 3,611,604,801.81
2 Less Ineligible Receivables:
3 SAU/NSF 0-30 in excess of
.75% of Trust Receivables 0.00
4 NSF 30+ (210,745.57)
5 SAU 30+ (5,210,234.92)
6 Total Pool Receivables 3,606,183,821.32
7 Discount Factor 0.50%
8 End of month Pool Balance 3,588,152,902.21
Total Trust Receivables-Delinquency
9 NSF 0-30 180,893.52
10 SAU 0-30 21,491,610.29
11 Total 21,672,503.81
12 Trust Receivables 3,611,604,801.81
13 .75 % of Trust Receivables 0.75%
14 Total 27,087,036.01
15 Amount in Excess 0.00
16 NSF 30+ 210,745.57
17 SAU 30+ 5,210,234.92
5,420,980.49
Overconcentrations
18 End of month Pool Balance 3,588,152,902.21
<CAPTION>
Limits Actual Excess
<S> <C> <C> <C> <C>
19 A/R Receivables 20% 717,630,580.44 92,809,185.28 0.00
20 Asset Based Receivables 20% 717,630,580.44 458,071,737.75 0.00
21 Dealer concentration 1999-1 top 15 3% 107,644,587.07 70,494,164.38 0.00
22 Dealer concentration 1999-1 Other 2% 71,763,058.04 19,899,596.73 0.00
23 Manufacturer Concentration 15% 538,222,935.33 256,065,604.47 0.00
24 Product Line Concentration:
25 CE & Appl 25% 897,038,225.55 14,775,917.47 0.00
26 MIS 40% 1,435,261,160.89 368,071,651.71 0.00
27 Motorcycle 25% 897,038,225.55 308,234,466.25 0.00
28 Marine 25% 897,038,225.55 638,623,567.72 0.00
29 Manufacturered Home 25% 897,038,225.55 371,569,448.20 0.00
30 RV 25% 897,038,225.55 544,320,005.02 0.00
31 Music 25% 897,038,225.55 118,633,907.40 0.00
32 Industrial Equipment 25% 897,038,225.55 456,966,444.57 0.00
33 A/R 25% 897,038,225.55 550,880,923.03 0.00
34 Snowmobiles 25% 897,038,225.55 97,003,320.42 0.00
35 Other 25% 897,038,225.55 142,525,150.03 0.00
36 Delayed Funding Receivables 214,039,677.42
02/29/2000 03/31/2000 04/30/2000 Average
37 Charge Offs to Receivables
(Annualized) 0.42% 0.42% 0.68% 0.51%
38 Payment Rate 29.56% 34.81% 32.85% 32.40%
Net Receivable Rate - Current Month
39 Interest 8.89%
40 Discount 1.97%
41 Total 10.86%
42 Less Servicing -2.00%
43 Remaining 8.86%
</TABLE>
