SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-K
ANNUAL REPORT
pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1999
33-99298
(Commission file number)
CNH Receivables Inc.
(Exact name of registrant as specified in its charter)
Delaware 76-0439709
(State or other jurisdiction of (I.R.S. employer identification number)
incorporation or organization)
475 Half Day Road
Lincolnshire, Illinois 60069
(Address of principal executive offices)
847-955-0228
(Registrant's telephone number)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes x No ___
As of December 31, 1999, 200 shares of CNH Receivables Inc.'s common stock,
$5.00 par value, were outstanding.
No documents have been incorporated by reference in this Form 10-K.
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TABLE OF CONTENTS
Page
PART I
Item 1. Business....................................................1
Item 2. Properties..................................................1
Item 3. Legal Proceedings...........................................1
Item 4. Submission of Matters to a Vote of Security Holders.........1
PART II
Item 5. Market for Registrant's Common Equity and Realty Stockholder
Matters....................................................2
Item 6. Selected Financial Data.....................................2
Item 7. Management's Discussion and Analysis of Financial Condition
and Results of Operation....................................2
Item 8. Financial Statements and Supplementary Data.................2
Item 9. Changes in and Disagreements With Accountants on Accounting
and Financial Disclosure.................................. 2
PART III
Item 10. Directors and Executive Officers of the Registrant..........2
Item 11. Executive Compensation......................................2
Item 12. Security Ownership of Certain Beneficial Owners
and Management.............................................2
Item 13. Certain Relationships and Related Transactions..............2
PART IV
Item 14. Exhibits, Financial Statements Schedules, and Reports on
Form 8-K ..................................................3
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On March 24, 1993, a letter (the "No-Action Letter") was submitted
on behalf of Case Equipment Loan Trust 1992-A and similarly situated trusts
to the Office of Chief Counsel, Division of corporation finance, of the
Securities and Exchange Commission (the "Commission") requesting that the
Commission raise no objection if trusts originated by Case Corporation file
reports pursuant to Sections 13, 15(d) and 16 of the Securities Exchange Act of
1934, as amended, in the manner described in the No-Action Letter. CNH
Receivables Inc. has prepared and filed this Annual Report on Form 10-K
in accordance with the No-Action Letter.
PART I
ITEM 1. BUSINESS
Omitted pursuant to the No-Action Letter.
ITEM 2. PROPERTIES
The Case Equipment Loan Trust 1999-B (the "Trust") was formed
pursuant to the Trust Agreement, dated as of August 1, 1999 (the
"Agreement"), between CNH Receivables Inc., as seller (the "Depositor"),
and The Bank of New York, as Trustee. The assets of the Trust include,
among other things, receivables consisting of retail installment sale
contracts and leases secured by new or used agricultural, construction and
other equipment, rights to receive certain payments made with respect to
such receivables, security interests in the equipment financed thereby and
the proceeds thereof. On September 13, 1999, the Trust issued $68,629,000
Class A-1 5.674% Asset Backed Notes, $300,000,000 Class A-2 6.330% Asset
Backed Notes, $100,000,000 Class A-3 6.660% Asset Backed Notes,
$182,371,000 Class A-4 6.9900% Asset Backed Notes, $31,500,000 Class B
7.050% Asset Backed Notes (collectively, the "Notes") and $17,500,000
7.050% Asset Backed Certificates (the "Certificates", and together with the
Notes, the "Securities"). From the inception of the Trust through December
31, 1999, the Trust sustained $520,658.78 in net losses on defaulted
receivables.
Reference is made to the Annual Statement of Compliance included
under Item 14.
ITEM 3. LEGAL PROCEEDINGS
None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None.
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PART II
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS
There is no established public trading market for the
Certificates. The entire principal amount of the Certificates were issued
to and have been retained by the Depositor.
ITEM 6. SELECTED FINANCIAL DATA
Omitted pursuant to the No-Action Letter.
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATION
Omitted pursuant to the No-Action Letter.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Omitted pursuant to the No-Action Letter.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
AND FINANCIAL DISCLOSURE
None.
PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
Omitted pursuant to the No-Action Letter.
ITEM 11. EXECUTIVE COMPENSATION
Omitted pursuant to the No-Action Letter.
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
None of the Securities issued by the Trust are voting securities.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
None.
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PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENTS SCHEDULES, AND REPORTS ON FORM 8-K
(a) Listed below are the documents filed as a part of this report:
Exhibit
Number
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99(a) Annual Statement of Compliance
99(b) Accountant's Statement
(b) Omitted pursuant to the No-Action Letter.
(c) Omitted pursuant to the No-Action Letter.
(d) Omitted pursuant to the No-Action Letter.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
CNH Receivables Inc.
(Registrant)
By: /s/ Ralph A. Than April____, 2000
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Ralph A. Than
Vice President and Treasurer
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SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
SECTION 15(D) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
No annual report to security holders and no proxy statement, form of proxy
or other proxy soliciting material has been sent to any security holder of
the registrant.
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