-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, I8aH+Ha+hN9SagCwVTdAmh0xk2OrRq14d58CY2/evvjqBfeKP66wwddmOIBHgUha cBx+TeZejDc7AlpV3sWX/A== 0000950131-01-000511.txt : 20010130 0000950131-01-000511.hdr.sgml : 20010130 ACCESSION NUMBER: 0000950131-01-000511 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010116 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HELLER FUNDING CORP CENTRAL INDEX KEY: 0001041672 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 364165546 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-83111 FILM NUMBER: 1517551 BUSINESS ADDRESS: STREET 1: C/O HELLER FINANCIAL INC STREET 2: 500 W MONROE ST CITY: CHICAGO STATE: IL ZIP: 60661 BUSINESS PHONE: 3124417246 MAIL ADDRESS: STREET 1: C/O HELLER FINANCIAL INC STREET 2: 500 W MONROE ST CITY: CHICAGO STATE: IL ZIP: 60661 8-K 1 0001.txt FORM 8-K 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: January 16, 2001 ---------------- (Date of earliest event reported) HELLER FUNDING CORPORATION -------------------------- HELLER EQUIPMENT ASSET RECEIVABLES TRUST 1999-1 ----------------------------------------------- (Exact name of registrant as specified in its charter) Delaware -------- (State or other jurisdiction of incorporation) 333-30207 36-4165546 --------- ---------- (Commission File Number) (IRS Employer Identification Number) 500 West Monroe Street, Chicago, Illinois 60661 ----------------------------------------- ----- (Address of principal executive offices) (Zip Code) (312) 441-7246 -------------- (Registrant's telephone number, including area code) Item 5. Other Events - ------- ------------ Attached, for the Distribution Date of January 16, 2001, is the Monthly Report, filed as Exhibit 99. Item 7. Financial Statements and Exhibits - ------- --------------------------------- (c) Exhibits 99 Heller Funding Corporation - Monthly Report for the Distribution Date of January 16, 2001. SIGNATURE 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. Dated: January 29, 2001 ---------------- HELLER FUNDING CORPORATION By: /s/ Carol J. Radtke ------------------------ Carol J. Radtke Title: Vice President EXHIBIT INDEX Exhibit Number Document Description - ------ -------------------- 99 Heller Funding Corporation - Monthly Report for the Distribution Date January 16, 2001 EX-99 2 0002.txt HELLER FUNDING CORPORATION - MONTHLY REPORT Heller Equipment Asset Receivables Trust 1999-1 - -------------------------------------------------------------------------------- Heller Financial, Inc. Monthly Report - Collections and Distribution
Collection Period December 2, 2000 to January 1, 2001 Determination Date January 10, 2001 Distribution Date January 16, 2001 Available Amounts - ----------------- Scheduled Payments plus Payaheads, net of Excluded Amounts 5,847,700.00 Prepayment Amounts 1,421,684.61 Recoveries 198,974.01 Investment Earnings on Collection Account and Reserve Fund 20,528.20 Late Charges 3,422.66 Servicer Advances 2,942,969.56 Total Available Amounts 10,435,279.04 ----------------------- ------------- Payments on Distribution Date - ----------------------------- Trustee Fees (only applicable pursuant to an Event of Default) 0.00 Unreimbursed Servicer Advances to the Servicer 0.00 Monthly Servicing Fee, if Heller Financial, Inc. is not the Servicer 0.00 Interest due to Class A-1 Notes 0.00 Interest due to Class A-2 Notes 0.00 Interest due to Class A-3 Notes 447,369.58 Interest due to Class A-4 Notes 146,800.09 Interest due to Class B Notes 27,023.38 Interest due to Class C Notes 26,985.46 Interest due to Class D Notes 29,539.11 Class A-1 Principal Payment Amount 0.00 Class A-2 Principal Payment Amount 0.00 Class A-3 Principal Payment Amount 8,658,946.40 Class A-4 Principal Payment Amount 0.00 Class B Principal Payment Amount 589,368.15 Class C Principal Payment Amount 575,884.67 Class D Principal Payment Amount 0.00 Additional Principal to Class A-2 Notes 0.00 Additional Principal to Class A-3 Notes 0.00 Additional Principal to Class A-4 Notes 0.00 Additional Principal to Class B Notes 0.00 Additional Principal to Class C Notes 0.00 Additional Principal to Class D Notes 0.00 Monthly Servicing Fee, if Heller Financial, Inc. is the Servicer 0.00 Deposit to the Reserve Fund (66,637.81) Excess to Certificateholder 0.00 Total distributions to Noteholders and Certificateholders 10,435,279.03 --------------------------------------------------------- -------------
Heller Equipment Asset Receivables Trust 1999-1 - -------------------------------------------------------------------------------- Heller Financial, Inc. Monthly Report - Schedules Trustee Fees, in Event of Default only - -------------------------------------- Trustee fees due on Distribution Date 0.00 Unreimbursed Servicer Advances - ------------------------------ Unreimbursed Servicer Advances 0.00 Monthly Servicing Fee Schedule, if Servicing has been transferred - ----------------------------------------------------------------- (i) Servicing Fee Percentage 0.40% (ii) ADCB of Contract Pool as of the 1st day of the Collection Period 141,771,696.22 (iii) Servicing Fee ( ( (i) / 12 ) x (ii) ) 0.00 (iv) Servicing Fee accrued but not paid in prior periods 0.00 Total Servicing Fee due and accrued ( (iii) + (iv) ) 0.00 Servicing Fee carried forward 0.00 Monthly Servicing Fee distributed 0.00 Class A-1 Interest Schedule - --------------------------- Opening Class A-1 principal balance 0.00 Class A-1 Interest Rate 4.94795% Number of days in Accrual Period 34 Current Class A-1 interest due 0.00 Class A-1 interest accrued but not paid in prior periods 0.00 Total Class A-1 interest due 0.00 Class A-1 interest carried forward 0.00 Class A-1 interest distribution 0.00 Class A-2 Interest Schedule - --------------------------- Opening Class A-2 principal balance - Class A-2 Interest Rate 5.26% Current Class A-2 interest due - Class A-2 interest accrued but not paid in prior periods 0.00 Total Class A-2 interest due - Class A-2 interest carried forward 0.00 Class A-2 interest distribution - Class A-3 Interest Schedule - --------------------------- Opening Class A-3 principal balance 97,607,908.76 Class A-3 Interest Rate 5.50% Current Class A-3 interest due 447,369.58 Class A-3 interest accrued but not paid in prior periods 0.00 Total Class A-3 interest due 447,369.58 Class A-3 interest carried forward 0.00 Class A-3 interest distribution 447,369.58 Class A-4 Interest Schedule - --------------------------- Opening Class A-4 principal balance 31,345,216.00 Class A-4 Interest Rate 5.62% Current Class A-4 interest due 146,800.09 Class A-4 interest accrued but not paid in prior periods 0.00 Total Class A-4 interest due 146,800.09 Class A-4 interest carried forward 0.00 Class A-4 interest distribution 146,800.09
Class B Interest Schedule - ------------------------- Opening Class B principal balance 5,571,830.31 Class B Interest Rate 5.82% Current Class B interest due 27,023.38 Class B interest accrued but not paid in prior periods 0.00 Total Class B interest due 27,023.38 Class B interest carried forward 0.00 Class B interest distribution 27,023.38 Class C Interest Schedule - ------------------------- Opening Class C principal balance 5,012,779.83 Class C Interest Rate 6.46% Current Class C interest due 26,985.46 Class C interest accrued but not paid in prior periods 0.00 Total Class C interest due 26,985.46 Class C interest carried forward 0.00 Class C interest distribution 26,985.46 Class D Interest Schedule - ------------------------- Opening Class D principal balance 3,865,532.00 Class D Interest Rate 9.17% Current Class D interest due 29,539.11 Class D interest accrued but not paid in prior periods 0.00 Total Class D interest due 29,539.11 Class D interest carried forward 0.00 Class D interest distribution 29,539.11 Class A-1 Principal Schedule - ---------------------------- Class A-1 Maturity Date May 15, 2000 (i) Opening Class A-1 principal balance 0.00 (ii) Aggregate outstanding principal of Notes plus Overcollateralization Balance 143,403,266.90 (iii) ADCB as of last day of the Collection Period 132,252,008.18 (iv) Monthly Principal Amount ( (ii) - (iii) ) 11,151,258.72 Class A-1 Principal Payment Amount due (lesser of (i) or (iv)) 0.00 Class A-1 Principal Payment Amount distribution 0.00 Class A-1 Principal Balance after current distribution 0.00 Class A Principal Payment Amount - -------------------------------- (i) Aggregate opening Class A-2, A-3 and A-4 Outstanding Principal Amount 128,953,124.76 (ii) Class A Target Investor Principal Amount (90.9583% * ending ADCB) 120,294,178.36 Class A Principal Payment Amount 8,658,946.40 Funds available for distribution 8,658,946.40 Class A-2 Principal Schedule - ---------------------------- Opening Class A-2 principal balance - Class A-2 Principal Payment Amount distribution 0.00 Class A-2 principal balance after current distribution - Class A-3 Principal Schedule - ---------------------------- Opening Class A-3 principal balance 97,607,908.76 Class A-3 Principal Payment Amount distribution 8,658,946.40 Class A-3 principal balance after current distribution 88,948,962.36
Class A-4 Principal Schedule - ---------------------------- Opening Class A-4 principal balance 31,345,216.00 Class A-4 Principal Payment Amount distribution 0.00 Class A-4 principal balance after current distribution 31,345,216.00 Class B Principal Schedule - -------------------------- Opening Class B principal balance 5,571,830.31 Class B Target Investor Principal Amount (3.7674% * ending ADCB) 4,982,462.16 Class B Floor (56,850.92) Class B Principal Payment Amount due 589,368.15 Class B Principal Payment Amount distribution 589,368.15 Class B principal balance after current distribution 4,982,462.16 Class C Principal Schedule - -------------------------- Opening Class C principal balance 5,012,779.83 Class C Target Investor Principal Amount (3.0139% * ending ADCB) 3,985,943.27 Class C Floor 1,979,037.76 Class C Principal Payment Amount due 1,026,836.56 Class C Principal Payment Amount distribution 575,884.67 Class C principal balance after current distribution 4,436,895.16 Class D Principal Schedule - -------------------------- Opening Class D principal balance 3,865,532.00 Class D Target Investor Principal Amount (1.5070% * ending ADCB) 1,993,037.76 Class D Floor 3,448,370.90 Class D Principal Payment Amount due 417,161.10 Class D Principal Payment Amount distribution 0.00 Class D principal balance after current distribution 3,865,532.00 Additional Principal Schedule - ----------------------------- Floors applicable (Yes/No) Yes Monthly Principal Amount 11,151,258.72 Sum of Principal Payments payable on all classes 10,692,312.21 Additional Principal payable 458,946.51 Additional Principal available, if payable 0.00 Class A-2 Additional Principal allocation 0.00 Class A-2 principal balance after current distribution - Class A-3 Additional Principal allocation 0.00 Class A-3 principal balance after current distribution 88,948,962.36 Class A-4 Additional Principal allocation 0.00 Class A-4 principal balance after current distribution 31,345,216.00 Class B Additional Principal allocation 0.00 Class B principal balance after current distribution 4,982,462.16 Class C Additional Principal allocation 0.00 Class C principal balance after current distribution 4,436,895.16 Class D Additional Principal allocation 0.00 Class D principal balance after current distribution 3,865,532.00
Monthly Servicing Fee Schedule, if Heller Financial, Inc. is the Servicer - ------------------------------------------------------------------------- (i) Servicing Fee Percentage 0.40% (ii) ADCB of Contract Pool as of the 1st day of the Collection Period 141,771,696.22 (iii) Servicing Fee due ( ( (i) / 12 ) * (ii) ) 47,257.23 (iv) Servicing Fee accrued but not paid in prior periods 1,244,467.21 Total Servicing Fee due and accrued ( (iii) + (iv) ) 1,291,724.44 Servicing Fee carried forward 1,291,724.44 Monthly Servicing Fee distributed 0.00 Reserve Fund Schedule - --------------------- ADCB as of the end of the Collection Period 132,252,008.18 Required Reserve Amount (ending ADCB * 0.70%) 925,764.06 Prior month Reserve Fund balance 992,401.87 Deposit to Reserve Fund - excess funds 0.00 Interim Reserve Fund Balance 992,401.87 Current period draw on Reserve Fund for Reserve Interest Payments 0.00 Current period draw on Reserve Fund for Reserve Principal Payments 66,637.81 Excess to Certificateholder 0.00 Ending Reserve Fund balance 925,764.06 Reserve Fund balance as a percentage of ADCB as of the end of the Collection Period 0.70%
Heller Equipment Asset Receivables Trust 1999-1 - -------------------------------------------------------------------------------- Heller Financial, Inc. Monthly Report - Note Factors
Class A-1 --------- Class A-1 principal balance 0.00 Initial Class A-1 principal balance 130,040,761.00 Note factor 0.000000000 Class A-2 --------- Class A-2 principal balance 0.00 Initial Class A-2 principal balance 66,680,434.00 Note factor 0.000000000 Class A-3 --------- Class A-3 principal balance 88,948,962.36 Initial Class A-3 principal balance 135,293,633.00 Note factor 0.657451207 Class A-4 --------- Class A-4 principal balance 31,345,216.00 Initial Class A-4 principal balance 31,345,216.00 Note factor 1.000000000 Class B ------- Class B principal balance 4,982,462.16 initial Class B principal balance 9,663,831.00 Note factor 0.515578362 Class C ------- Class C principal balance 4,436,895.16 Initial Class C principal balance 7,731,065.00 Note factor 0.573904780 Class D ------- Class D principal balance 3,865,532.00 Initial Class D principal balance 3,865,532.00 Note factor 1.000000000
Heller Equipment Asset Receivables Trust 1999-1 - ---------------------------------------------------------------------------------------------------------------------------------- Heller Financial, Inc. Monthly Report - Additional Schedules and Limitations Cumulative Loss Amount Schedule - ------------------------------- (i) Outstanding Principal Amount of the Notes as of the preceding Distribution Date 143,403,266.90 (ii) Overcollateralization Balance as of the preceding Distribution Date (1,631,570.68) (iii) Monthly Principal Amount 11,151,258.72 (iv) Available Amounts remaining after the payment of interest 9,757,561.42 (v) ADCB as of the end of the Collection Period 132,252,008.18 Cumulative Loss Amount 0.00 Class B Floor Calculation - ------------------------- Class B Floor percentage 1.86% Initial ADCB 386,553,237.98 Cumulative Loss Amount for current period 0.00 Sum of Outstanding Principal Amount of Class C Notes, Class D Notes and Overcollateralization Balance 7,246,741.15 Class B Floor (56,850.92) Class C Floor Calculation - ------------------------- Class C Floor percentage 1.09% Initial ADCB 386,553,237.98 Cumulative Loss Amount for current period 0.00 Sum of Outstanding Principal Amount of Class D Notes and Overcollateralization Balance 2,233,961.32 Class C Floor 1,979,468.97 Class D Floor Calculation - ------------------------- Class D Floor percentage 0.47% Initial ADCB 386,553,237.98 Cumulative Loss Amount for current period 0.00 Overcollateralization Balance (1,631,570.68) Class D Floor 3,448,370.90 Heller Financial, Inc. is the Servicer (Yes/No) Yes An Event of Default has occurred (Yes/No) No 10% Substitution Limit Calculation - ---------------------------------- ADCB as of the Cut-off Date: 386,553,237.98 Cumulative DCB of Substitute Contracts replacing materially modified contracts 5,404,027.98 Percentage of Substitute Contracts replacing materially modified contracts 1.40% Percentage of Substitute Contracts replacing modified contracts exceeds 10% (Yes/No) No 5% Skipped Payment Limit Calculation - ------------------------------------ The percent of contracts with Skipped Payment modifications 0.08% The DCB of Skipped Payment modifications exceeds 5% of the initial ADCB (Yes/No) No Any Skipped Payments have been deferred later than January 1, 2006 No
Heller Equipment Asset Receivables Trust 1999-1 - ---------------------------------------------------------------------------------------------------------------------------------- Heller Financial, Inc. Monthly Report - Pool Data Pool Data - --------- ADCB as of the first day of the Collection Period 141,771,696.22 ADCB as of the last day of the Collection Period 132,252,008.18 DCB as of the first day of the Collection Period of Contracts that became Defaulted Contracts 0.00 Number of Contracts that became Defaulted Contracts during the period 1 Defaulted Contracts as a percentage of ADCB (annualized) 0.00% DCB of Contracts as of the last day of the Collection Period that became Prepaid Contracts 1,322,813.60 Number of Prepaid Contracts as of the last day of the Collection Period 8 DCB of Contracts as of the last day of the Collection Period that were added as Substitute Contracts 0.00 Number of Substitute Contracts as of the last day of the Collection Period 0 DCB of Contracts as of the last day of the Collection Period that became Warranty Contracts 0.00 Number of Warranty Contracts as of the last day of the Collection Period 0 Recoveries collected relating to Defaulted Contracts as of the last day of the Collection Period 198,974.01 Cumulative Servicer Advances paid by the Servicer 19,246,299.79 Cumulative reimbursed Servicer Advances 16,303,330.23 Delinquencies and Losses Dollars Percent - ------------------------ ------- ------- Current 121,973,641.34 92.23% 31-60 days past due 5,134,899.24 3.88% 61-90 days past due 4,564,152.71 3.45% Over 90 days past due 579,314.89 0.44% ------------------- ----------------- Total 132,252,008.18 100.00% 31+ days past due 10,278,366.84 7.77% (i) Cumulative ADCB of Defaulted Contracts (cumulative gross losses to date) 7,173,079.10 (ii) Cumulative Recoveries realized on Defaulted Contracts 1,975,390.57 Cumulative net losses to date ( (i) - (ii) ) 5,197,688.53 Cumulative net losses as a percentage of the initial ADCB 1.34%
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