-----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, Vv602zxous2fyvONjvOlCd4ua6O8e5TOcDQoFsPmoeFcG/cuqjIRdVsdIOf8mpxU bib1dI+P8uyGBepgBHBAVg== 0000914064-03-000103.txt : 20030625 0000914064-03-000103.hdr.sgml : 20030625 20030625105017 ACCESSION NUMBER: 0000914064-03-000103 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030531 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030625 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CDF FINANCING LLC CENTRAL INDEX KEY: 0001217630 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 880355652 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-84458-02 FILM NUMBER: 03755976 BUSINESS ADDRESS: STREET 1: GE COMMERCIAL DISTRIBUTION FINANCE CORP STREET 2: 655 MARYVILLE CENTRE DRIVE CITY: ST LOUIS STATE: MO ZIP: 63141 BUSINESS PHONE: 314-523-3000 MAIL ADDRESS: STREET 1: GE COMMERCIAL DISTRIBUTION FINANCE CORP STREET 2: 655 MARYVILLE CENTRE DRIVE CITY: ST LOUIS STATE: MO ZIP: 63141 8-K 1 financmay.txt CDF FINANCING LLC 5/31/2003 8-K June 24, 2003 Securities and Exchange Commission 450 Fifth Street, N.W. Judiciary Plaza Washington, D.C. 20549 Re: Form 8-K CDF Financing, L.L.C. Registration Nos. 333-84458-01 and 333-84458-02 On behalf of CDF Financing, L.L.C. a Delaware Limited Liability Company ("Registrant"), I am transmitting herewith for filing, pursuant to the requirements of the Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System, Form 8-K. Please send either confirmation or suspense notification to e:mail address Pat.o-malley@ge.com at your earliest convenience. Sincerely, /s/ W. Steven Culp Manager 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 June 15, 2003 CDF Financing, L.L.C. (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 333-84458-01 and 333-84458-02 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 to this Current Report on Form 8-K. Item 7.(c) Exhibits. Exhibit Description EX-1 Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting Reporting for period ending 5/31/2003 EX-2 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-1 Reporting for period ending 5/31/2003 EX-3 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-2 Reporting for period ending 5/31/2003 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. CDF Financing, L.L.C. on behalf of itself, as Registrant Date: June 24, 2003 By: /s/ W. Steven Culp Title: Manager EX-1 Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting For the Period Ending 5/31/2003 Calculation Of Pool Balance 1 Total "Office" Receivables 3,108,102,265 2 Less Ineligible Receivables: 3 SAU/NSF 0-30 in excess of .75% of Trust Receivables 0 4 NSF Over 30 Days Office (798,096) Less: DFS MH West (01036139) 0 DFS MH East (01106008) 42,196 5 SAU Over 30 Days Office (5,298,529) Less: DFS MH West (01036139) 567,358 DFS MH East (01106008) 1,065,404 6 Total Principal Receivables 3,103,680,598 7 Discount Factor 0.50% 8 End of month Pool Balance 3,088,162,195 Total Trust Receivables-Delinquency 9 NSF 1-30 Office 121,209 Less: DFS MH West (01036139) (1,089) DFS MH East (01106008) (20,543) 10 SAU 1-30 Office 21,531,158 Less: DFS MH West (01036139) (1,110,541) DFS MH East (01106008) (1,339,130) 11 Total 19,181,064 12 Trust Receivables 3,108,102,265 13 .75 % of Trust Receivables 0.75% 14 Total 23,310,767 15 Amount in Excess 0 16 NSF 30+ 798,096 17 SAU 30+ 5,298,529 6,096,625 Overconcentrations 18 End of month Pool Balance 3,088,162,195
Limits Actual Excess 19 A/R Receivables 20% 617,632,439 22,001,418 0 20 Asset Based Receivables 20% 617,632,439 325,568,189 0 21 Dealer concentration top 8 2.5% 77,204,055 57,413,671 0 22 Dealer concentration Other 2% 61,763,244 21,841,620 0 23 Manufacturer Concentration Top 3 15% 463,224,329 448,045,757 0 24 Manufacturer Concentration Other 10% 308,816,220 69,904,051 0 25 Product Line Concentration: 26 CE & Appl 25% 772,040,549 45,695,355 0 27 MIS 25% 772,040,549 289,924,603 0 28 Motorcycle 25% 772,040,549 623,666,801 0 29 Marine 35% 1,080,856,768 660,660,812 0 30 Manufacturered Home 25% 772,040,549 0 0 31 RV 35% 1,080,856,768 748,990,745 0 32 Music 25% 772,040,549 63,910,589 0 33 Industrial Equipment 25% 772,040,549 133,478,376 0 34 A/R 25% 772,040,549 347,569,607 0 35 Snowmobiles 25% 772,040,549 38,707,681 0 36 Other 25% 772,040,549 155,497,697 0 37 Delayed Funding Receivables 279,329,702 3/31/2003 4/30/2003 5/31/2003 Average 38 Charge Offs to Receivables (Annualized) 0.74% 0.91% 0.17% 0.61% 39 Payment Rate 30.35% 38.56% 37.40% 35.44% Net Receivable Rate - Current Month 40 Interest 6.23% 41 Discount 2.24% 42 Total 8.47% 43 Less Servicing -2.00% 44 Remaining 6.47%
EX-2 Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 05/31/03 Collection Period 05/01/03 05/31/03 Determination Date 06/13/03 Distribution Date 06/16/03
Series Series Series Series Total 2003-1 2003-1 2003-1 2003-1 Date Trust Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 4/30/03 3,285,222,781 2 Plus: Account Additions 5/01/2003 - 3 Beginning of month Principal Receivables 5/01/2003 3,285,222,781 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 5/01/2003 3,268,796,667 6 Beginning of month Dealer Overconcentrations 5/01/2003 - Beginning of month 7 Unconcentrated Pool Balance 5/01/2003 3,268,796,667 8 End of month Principal Receivables 5/31/03 3,103,680,598 9 Discount Factor 0.50% 10End of month Pool Balance 5/31/03 3,088,162,195 11End of month Dealer Overconcentrations 5/31/03 - 12End of month Unconcentrated Pool Balance 5/31/03 3,088,162,195 13Overconcentrated Percentage 5/31/03 0.00% 14Unconcentrated Percentage 5/31/03 100.00% Certificates 15Beginning of month/closing date Invested Amount 5/01/2003 750,000,000 716,250,000 22,500,000 11,250,000 16Allocation Percentage 5/01/2003 27.27% 26.05% 0.82% 0.41% 17End of month Invested Amount 5/31/03 750,000,000 716,250,000 22,500,000 11,250,000 18Principal Payments Outstanding Principal 6/13/03 - - - - 19Balance 6/16/03 750,000,000 716,250,000 22,500,000 11,250,000 20Pool Factor 6/16/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 5/16/03 - 22Determination Date deposit 6/16/03 - Distribution Date 23disbursement 6/16/03 - Excess Funding Account 24balance 6/16/03 - Reserve Fund 25Required Amount 6/16/03 26,250,000 26Beginning Balance 5/16/03 26,250,000 27Deposits 05/16/03 6/16/03 25,540 28Disbursements 05/16/03 6/16/03 25,540 29Ending Balance 6/16/03 26,250,000 Collections 30Principal Allocation Percentage 5/31/03 22.94% 21.91% 0.69% 0.34% 31Floating Allocation Percentage 5/31/03 22.94% 21.91% 0.69% 0.34% 32Series Allocation Percentage 5/31/03 27.27% 33Principal Collections 05/01/03 5/31/03 1,228,549,178 34Nonprincipal Collections 05/01/03 5/31/03 21,893,289 35Total Collections 05/01/03 5/31/03 1,250,442,467 Defaults 36Defaulted Amount 05/01/03 5/31/03 459,219 37Investor Default Amount 05/01/03 5/31/03 105,364 100,623 3,161 1,580 Interest 38Monthly Interest 6/16/03 942,200 878,600 34,000 29,600 39Interest Shortfall 6/16/03 - - - - 40Additional Interest 6/16/03 - - - - 41Total 6/16/03 942,200 878,600 34,000 29,600 Servicing Fee 42Certificate Balance for Servicing Fee determination 5/01/2003 750,000,000 716,250,000 22,500,000 11,250,000 43Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 44Servicing Fee 05/01/03 5/31/03 1,250,000 1,193,750 37,500 18,750 45Remaining Servicing Fee 6/16/03 1,250,000 1,193,750 37,500 18,750 Excess Servicing 46Nonprincipal Collections 05/01/03 5/31/03 21,893,289 47Servicer Advance Less Reimbursement of Servicer Advance 05/01/03 5/31/03 2,379,607 48Floating Allocation Percentage 22.94% 21.91% 0.69% 0.34% 49Investor Nonprincipal Collections 05/01/03 5/31/03 5,023,245 4,797,199 150,697 75,349 50Investor portion of Servicer Advance Less Reimbursement 05/01/03 5/31/03 545,982 521,413 16,379 8,190 51Plus: Investment Proceeds 05/01/03 5/31/03 25,568 52Less: 53Monthly Interest 6/13/03 942,200 878,600 34,000 29,600 54Prior Monthly Interest 6/13/03 - - - - 55Additional Interest 6/13/03 - - - - 56Reserve Fund Deposit 6/13/03 - - - - 57Default Amount 05/01/03 5/31/03 105,364 100,623 3,161 1,580 58Charge-Offs 05/01/03 5/31/03 - - - - 59Monthly Servicing Fee 6/16/03 1,250,000 1,193,750 37,500 18,750 60Carry-over Amount 6/16/03 - - - - 61Carry-over Amount Additional Interest 6/16/03 - - - - 63Balance: Excess Servicing 05/01/03 5/31/03 3,297,231 Collection Account 64Beginning Balance 5/16/03 - 65Deposits 05/16/03 6/16/03 1,488,210 66Disbursements 05/16/03 6/16/03 1,488,210 67Ending Balance 6/16/03 - Interest Funding Account 68Beginning Balance 5/16/03 - 69Deposits 05/16/03 6/16/03 942,228 70Disbursements 05/16/03 6/16/03 942,228 71Ending Balance 6/16/03 - Principal Funding Account 72Beginning Balance 5/16/03 - 73Deposits 05/16/03 6/16/03 - 74Disbursements 05/16/03 6/16/03 - 75Ending Balance 6/16/03 - Interest Rate for the Next Period 81One-month LIBOR 06/17/03 7/14/03 1.18000% 82Net Receivables Rate 5/31/03 6.46718%
EX-3 Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 05/31/03 Collection Period 05/01/03 05/31/03 Determination Date 06/13/03 Distribution Date 06/16/03
Series Series Series Series Total 2003-2 2003-2 2003-2 2003-2 Date Trust Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 4/30/03 3,285,222,781 2 Plus: Account Additions 5/01/2003 - 3 Beginning of month Principal Receivables 5/01/2003 3,285,222,781 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 5/01/2003 3,268,796,667 6 Beginning of month Dealer Overconcentrations 5/01/2003 - Beginning of month 7 Unconcentrated Pool Balance 5/01/2003 3,268,796,667 8 End of month Principal Receivables 5/31/03 3,103,680,598 9 Discount Factor 0.50% 10End of month Pool Balance 5/31/03 3,088,162,195 11End of month Dealer Overconcentrations 5/31/03 - 12End of month Unconcentrated Pool Balance 5/31/03 3,088,162,195 13Overconcentrated Percentage 5/31/03 0.00% 14Unconcentrated Percentage 5/31/03 100.00% Certificates 15Beginning of month/closing date Invested Amount 5/01/2003 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 5/01/2003 36.36% 34.73% 1.09% 0.55% 17End of month Invested Amount 5/31/03 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 6/13/03 - - - - 19Balance 6/16/03 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 6/16/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 5/16/03 - 22Determination Date deposit 6/16/03 - Distribution Date 23disbursement 6/16/03 - Excess Funding Account 24balance 6/16/03 - Reserve Fund 25Required Amount 6/16/03 35,000,000 26Beginning Balance 5/16/03 35,000,000 27Deposits 05/16/03 6/16/03 34,053 28Disbursements 05/16/03 6/16/03 34,053 29Ending Balance 6/16/03 35,000,000 Collections 30Principal Allocation Percentage 5/31/03 30.59% 29.22% 0.92% 0.46% 31Floating Allocation Percentage 5/31/03 30.59% 29.22% 0.92% 0.46% 32Series Allocation Percentage 5/31/03 36.36% 33Principal Collections 05/01/03 5/31/03 1,228,549,178 34Nonprincipal Collections 05/01/03 5/31/03 21,893,289 35Total Collections 05/01/03 5/31/03 1,250,442,467 Defaults 36Defaulted Amount 05/01/03 5/31/03 459,219 37Investor Default Amount 05/01/03 5/31/03 140,486 134,164 4,215 2,107 Interest 38Monthly Interest 6/16/03 1,286,533 1,196,933 47,467 42,133 39Interest Shortfall 6/16/03 - - - - 40Additional Interest 6/16/03 - - - - 41Total 6/16/03 1,286,533 1,196,933 47,467 42,133 Servicing Fee 42Certificate Balance for Servicing Fee determination 5/01/2003 1,000,000,000 955,000,000 30,000,000 15,000,000 43Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 44Servicing Fee 05/01/03 5/31/03 1,666,667 1,591,667 50,000 25,000 45Remaining Servicing Fee 6/16/03 1,666,667 1,591,667 50,000 25,000 Excess Servicing 46Nonprincipal Collections 05/01/03 5/31/03 21,893,289 47Servicer Advance Less Reimbursement of Servicer Advance 05/01/03 5/31/03 2,379,607 48Floating Allocation Percentage 30.59% 29.22% 0.92% 0.46% 49Investor Nonprincipal Collections 05/01/03 5/31/03 6,697,660 6,396,265 200,930 100,465 50Investor portion of Servicer Advance Less Reimbursement 05/01/03 5/31/03 727,977 695,218 21,839 10,920 51Plus: Investment Proceeds 05/01/03 5/31/03 34,081 52Less: 53Monthly Interest 6/13/03 1,286,533 1,196,933 47,467 42,133 54Prior Monthly Interest 6/13/03 - - - - 55Additional Interest 6/13/03 - - - - 56Reserve Fund Deposit 6/13/03 - - - - 57Default Amount 05/01/03 5/31/03 140,486 134,164 4,215 2,107 58Charge-Offs 05/01/03 5/31/03 - - - - 59Monthly Servicing Fee 6/16/03 1,666,667 1,591,667 50,000 25,000 60Carry-over Amount 6/16/03 - - - - 61Carry-over Amount Additional Interest 6/16/03 - - - - 63Balance: Excess Servicing 05/01/03 5/31/03 4,366,032 Collection Account 64Beginning Balance 5/16/03 - 65Deposits 05/16/03 6/16/03 2,014,538 66Disbursements 05/16/03 6/16/03 2,014,538 67Ending Balance 6/16/03 - Interest Funding Account 68Beginning Balance 5/16/03 - 69Deposits 05/16/03 6/16/03 1,286,561 70Disbursements 05/16/03 6/16/03 1,286,561 71Ending Balance 6/16/03 - Principal Funding Account 72Beginning Balance 5/16/03 - 73Deposits 05/16/03 6/16/03 - 74Disbursements 05/16/03 6/16/03 - 75Ending Balance 6/16/03 - Interest Rate for the Next Period 81One-month LIBOR 06/17/03 7/14/03 1.18000% 82Net Receivables Rate 5/31/03 6.46718%
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