-----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, Mp4FSK0RLrP3fE9jH9ui5TpaDrlTfZ9iaBsl2kKyBCWWsSmcek8EHpaQx4ZrEikS V8O/6/K5RthKhXmDNbTrRA== 0000914064-03-000105.txt : 20030731 0000914064-03-000105.hdr.sgml : 20030731 20030731131659 ACCESSION NUMBER: 0000914064-03-000105 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030630 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030731 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: 03813940 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 finjune.txt CDF FINANCING LLC 6/30/03 8-K July 30, 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 July 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 and 3 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 6/30/2003 EX-2 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-1 Reporting for period ending 6/30/2003 EX-3 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-2 Reporting for period ending 6/30/2003 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: July 30, 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 6/30/2003 Calculation Of Pool Balance 1 Total "Office" Receivables 3,010,296,140 2 Less Ineligible Receivables: 3 SAU/NSF 0-30 in excess of .75% of Trust Receivables 0 4 NSF Over 30 Days Office (776,472) Less: DFS MH West (01036139) 0 DFS MH East (01106008) 42,196 5 SAU Over 30 Days Office (5,072,489) Less: DFS MH West (01036139) 909,159 DFS MH East (01106008) 1,209,266 6 Total Principal Receivables 3,006,607,800 7 Discount Factor 0.50% 8 End of month Pool Balance 2,991,574,761 Total Trust Receivables-Delinquency 9 NSF 1-30 Office 42,538 Less: DFS MH West (01036139) 0 DFS MH East (01106008) (9,909) 10 SAU 1-30 Office 16,228,816 Less: DFS MH West (01036139) (812,279) DFS MH East (01106008) (777,309) 11 Total 14,671,857 12 Trust Receivables 3,010,296,140 13 .75 % of Trust Receivables 0.75% 14 Total 22,577,221 15 Amount in Excess 0 16 NSF 30+ 776,472 17 SAU 30+ 5,072,489 5,848,961 Overconcentrations 18 End of month Pool Balance 2,991,574,761
Limits Actual Excess 19 A/R Receivables 20% 598,314,952 24,695,301 0 20 Asset Based Receivables 20% 598,314,952 329,273,906 0 21 Dealer concentration top 8 2.5% 74,789,369 82,291,710 7,502,341 22 Dealer concentration Other 2% 59,831,495 24,456,278 0 23 Manufacturer Concentration Top 3 15% 448,736,214 413,387,119 0 24 Manufacturer Concentration Other 10% 299,157,476 59,718,665 0 25 Product Line Concentration: 26 CE & Appl 25% 747,893,690 92,701,977 0 27 MIS 25% 747,893,690 293,518,928 0 28 Motorcycle 25% 747,893,690 586,120,444 0 29 Marine 35% 1,047,051,166 596,138,243 0 30 Manufacturered Home 25% 747,893,690 0 0 31 RV 35% 1,047,051,166 689,702,555 0 32 Music 25% 747,893,690 60,238,819 0 33 Industrial Equipment 25% 747,893,690 151,527,914 0 34 A/R 25% 747,893,690 353,969,207 0 35 Snowmobiles 25% 747,893,690 34,008,523 0 36 Other 25% 747,893,690 152,369,531 0 37 Delayed Funding Receivables 336,284,053 4/30/2003 5/31/2003 6/30/2003 Average 38 Charge Offs to Receivables (Annualized) 0.91% 0.17% 0.48% 0.52% 39 Payment Rate 38.56% 37.40% 39.20% 38.39% Net Receivable Rate - Current Month 40 Interest 6.09% 41 Discount 2.35% 42 Total 8.44% 43 Less Servicing -2.00% 44 Remaining 6.44%
EX-2 Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 06/30/03 Collection Period 06/01/03 06/30/03 Determination Date 07/14/03 Distribution Date 07/15/03 Dealer Over- Series Series Series Series Total Concentration 2003-1 2003-1 2003-1 2003-1 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 05/31/03 3,088,162,195 2 Plus: Account Additions 06/01/03 - 3 Beginning of month Principal Receivables 06/01/03 3,088,162,195 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 06/01/03 3,072,721,384 6 Beginning of month Dealer Overconcentrations 06/01/03 - Beginning of month 7 Unconcentrated Pool Balance 06/01/03 3,072,721,384 8 End of month Principal Receivables 06/30/03 3,006,607,800 9 Discount Factor 0.50% 10End of mo Pool Balance 06/30/03 2,991,574,761 11End of month Dealer Overconcentrations 06/30/03 7,502,341 12End of month Unconcentrated Pool Balance 06/30/03 2,984,072,420 13Overconcentrated % 06/30/03 0.25% 14Unconcentrated % 06/30/03 99.75% Certificates 15Beginning of month/closing date Invested Amount 06/01/03 - 750,000,000 716,250,000 22,500,000 11,250,000 16Allocation Percentage 06/01/03 0.27% 27.20% 25.97% 0.82% 0.41% 17End of month Invested Amount 06/30/03 7,502,341 750,000,000 716,250,000 22,500,000 11,250,000 18Principal Payments Outstanding Principal 07/14/03 - - - - - 19Balance 07/15/03 7,502,341 750,000,000 716,250,000 22,500,000 11,250,000 20Pool Factor 07/15/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 06/17/03 - 22Determination Date - Deposit 07/15/03 Distribution Date 23Disbursement 07/15/03 - Excess Funding Account 24Balance 07/15/03 - Reserve Fund 25Required Amount 07/15/03 - 26,250,000 26Beginning Balance 06/17/03 - 26,250,000 27Deposits 06/17/03 07/15/03 - 23,494 28Disbursements 06/17/03 07/15/03 - 23,494 29Ending Balance 07/15/03 - 26,250,000 Collections 30Principal Allocation Percentage 06/30/03 0.24% 24.41% 23.31% 0.73% 0.37% 31Floating Allocation Percentage 06/30/03 0.24% 24.41% 23.31% 0.73% 0.37% 32Series Allocation % 06/30/03 0.25% 27.27% 33Principal Collections 06/01/03 06/30/03 1,210,402,357 58,003 34Nonprincipal Collectio06/01/03 06/30/03 21,831,840 29 35Total Collections 06/01/03 06/30/03 1,232,234,197 58,032 Defaults 36Defaulted Amount 06/01/03 06/30/03 1,193,377 37Investor Default Amoun06/01/03 06/30/03 - 291,284 278,176 8,739 4,369 Interest 38Monthly Interest 07/15/03 - 775,327 721,224 28,456 25,647 39Interest Shortfall 07/15/03 - - - - - 40Additional Interest 07/15/03 - - - - - 41Total 07/15/03 - 775,327 721,224 28,456 25,647 Servicing Fee 42Certificate Balance for Servicing Fee determination 6/01/2003 - 750,000,000 716,250,000 22,500,000 11,250,000 43Servicing Fee Rate 0.00% 2.00% 2.00% 2.00% 2.00% 44Servicing Fee 06/01/03 06/30/03 - 1,250,000 1,193,750 37,500 18,750 45Remaining Servicing Fee 07/15/03 - 1,250,000 1,193,750 37,500 18,750 Excess Servicing 46Nonprincipal Collectio06/01/03 06/30/03 21,831,840 47Servicer Advance Less Reimbursement of Servicer Advance 06/01/03 06/30/03 1,864,116 48Floating Allocation Percentage 0.24% 24.41% 23.31% 0.73% 0.37% 49Investor Nonprincipal Collections 06/01/03 06/30/03 29 5,328,788 5,088,992 159,864 79,932 50Investor portion of Servicer Advance Less Reimbursement 06/01/03 06/30/03 - 455,000 434,525 13,650 6,825 51Plus: Investment Proc06/01/03 06/30/03 - 23,579 52Less: 53Monthly Interest 07/14/03 - 775,327 721,224 28,456 25,647 54Prior Monthly Interest 07/14/03 - - - - - 55Additional Interest 07/14/03 - - - - - 56Reserve Fund Deposit 07/14/03 - - - - - 57Default Amount 06/01/03 06/30/03 - 291,284 278,176 8,739 4,369 58Charge-Offs 06/01/03 06/30/03 - - - - - 59Monthly Servicing Fee 07/15/03 - 1,250,000 1,193,750 37,500 18,750 60Carry-over Amount 07/15/03 - - - - - 61Carry-over Amount Additional Interest 07/15/03 - - - - - 63Balance: Excess Servi06/01/03 06/30/03 29 3,490,756 Collection Account 64Beginning Balance 06/17/03 - - 65Deposits 06/17/03 07/15/03 - 1,230,327 66Disbursements 06/17/03 07/15/03 - 1,230,327 67Ending Balance 07/15/03 - - Interest Funding Account 68Beginning Balance 06/17/03 - - 69Deposits 06/17/03 07/15/03 - 775,412 70Disbursements 06/17/03 07/15/03 - 775,412 71Ending Balance 07/15/03 - - Principal Funding Account 72Beginning Balance 06/17/03 - - 73Deposits 06/17/03 07/15/03 - - 74Disbursements 06/17/03 07/15/03 - - 75Ending Balance 07/15/03 - - Interest Rate for the Next Period 81One-month LIBOR 07/15/03 08/14/03 1.10688% 82Net Receivables Rate 06/30/03 6.44038%
EX-3 Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 06/30/03 Collection Period 06/01/03 06/30/03 Determination Date 07/14/03 Distribution Date 07/15/03 Dealer Over- Series Series Series Series Total Concentration 2003-2 2003-2 2003-2 2003-2 Date Trust Series Total Class A Class B Class C Pool Balance 1 Beginning of Month Receivables 05/31/03 3,088,162,195 2 Plus: Account Additions 06/01/03 - 3 Beginning of month Principal Receivables 06/01/03 3,088,162,195 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 06/01/03 3,072,721,384 6 Beginning of month Dealer Overconcentrations 06/01/03 - Beginning of month 7 Unconcentrated Pool Balance 06/01/03 3,072,721,384 8 End of month Principal Receivables 06/30/03 3,006,607,800 9 Discount Factor 0.50% 10End of month Pool Balance 06/30/03 2,991,574,761 11End of month Dealer Overconcentrations 06/30/03 7,502,341 12End of month Unconcentrated Pool Balance 06/30/03 2,984,072,420 13Overconcentrated Percentage 06/30/03 0.25% 14Unconcentrated Percentage 06/30/03 99.75% Certificates 15Beginning of month/closing date Invested Amount 06/01/03 - 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 06/01/03 0.27% 36.26% 34.63% 1.09% 0.54% 17End of month Invested Amount 06/30/03 7,502,341 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 07/14/03 - - - - - 19Balance 07/15/03 7,502,341 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 07/15/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 06/17/03 - 22Determination Date deposit Deposit 07/15/03 23Distribution Date Disbursement 07/15/03 - 24Excess Funding Account Balance 07/15/03 - Reserve Fund 25Required Amount 07/15/03 - 35,000,000 26Beginning Balance 06/17/03 - 35,000,000 27Deposits 06/17/03 07/15/03 - 31,325 28Disbursements 06/17/03 07/15/03 - 31,325 29Ending Balance 07/15/03 - 35,000,000 Collections 30Principal Allocation Percentage 06/30/03 0.24% 32.54% 31.08% 0.98% 0.49% 31Floating Allocation Percentage 06/30/03 0.24% 32.54% 31.08% 0.98% 0.49% 32Series Allocation Percentage 06/30/03 0.25% 36.36% 33Principal Collections 06/01/03 06/30/03 1,210,402,357 58,003 34Nonprincipal Collectio06/01/03 06/30/03 21,831,840 29 35Total Collections 06/01/03 06/30/03 1,232,234,197 58,032 Defaults 36Defaulted Amount 06/01/03 06/30/03 1,193,377 37Investor Default Amoun06/01/03 06/30/03 - 388,378 370,901 11,651 5,826 Interest 38Monthly Interest 07/15/03 - 1,061,199 984,711 39,875 36,613 39Interest Shortfall 07/15/03 - - - - - 40Additional Interest 07/15/03 - - - - - 41Total 07/15/03 - 1,061,199 984,711 39,875 36,613 Servicing Fee 42Certificate Balance for Servicing Fee determination 6/01/2003 - 1,000,000,000 955,000,000 30,000,000 15,000,000 43Servicing Fee Rate 0.00% 2.00% 2.00% 2.00% 2.00% 44Servicing Fee 06/01/03 06/30/03 - 1,666,667 1,591,667 50,000 25,000 45Remaining Servicing Fee 07/15/03 - 1,666,667 1,591,667 50,000 25,000 Excess Servicing 46Nonprincipal Collectio06/01/03 06/30/03 21,831,840 47Servicer Advance Less Reimbursement of Servicer Advance 06/01/03 06/30/03 1,864,116 48Floating Allocation Percentage 0.24% 32.54% 31.08% 0.98% 0.49% 49Investor Nonprincipal Collections 06/01/03 06/30/03 29 7,105,051 6,785,323 213,152 106,576 50Investor portion of Servicer Advance Less Reimburse06/01/03 06/30/03 - 606,666 579,366 18,200 9,100 51Plus: Investment Proc06/01/03 06/30/03 - 31,442 52Less: 53Monthly Interest 07/14/03 - 1,061,199 984,711 39,875 36,613 54Prior Monthly Interest 07/14/03 - - - - - 55Additional Interest 07/14/03 - - - - - 56Reserve Fund Deposit 07/14/03 - - - - - 57Default Amount 06/01/03 06/30/03 - 388,378 370,901 11,651 5,826 58Charge-Offs 06/01/03 06/30/03 - - - - - 59Monthly Servicing Fee 07/15/03 - 1,666,667 1,591,667 50,000 25,000 60Carry-over Amount 07/15/03 - - - - - 61Carry-over Amount Additional Interest 07/15/03 - - - - - 63Balance: Excess Servi06/01/03 06/30/03 29 4,626,915 Collection Account 64Beginning Balance 06/17/03 - - 65Deposits 06/17/03 07/15/03 - 1,667,865 66Disbursements 06/17/03 07/15/03 - 1,667,865 67Ending Balance 07/15/03 - - Interest Funding Account 68Beginning Balance 06/17/03 - - 69Deposits 06/17/03 07/15/03 - 1,061,316 70Disbursements 06/17/03 07/15/03 - 1,061,316 71Ending Balance 07/15/03 - - Principal Funding Account 72Beginning Balance 06/17/03 - - 73Deposits 06/17/03 07/15/03 - - 74Disbursements 06/17/03 07/15/03 - - 75Ending Balance 07/15/03 - - Interest Rate for the Next Period 81One-month LIBOR 07/15/03 08/14/03 1.10688% 82Net Receivables Rate 06/30/03 6.44038%
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