-----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, Ki6bvcYwrFp6b9JgmoYT2+O7HY1ilRDQEi7g2OP3WAHVR7T8V9VLXEpa10TK4uNG zCOcotRvAeUgDhdUxCrdpQ== 0000914064-03-000120.txt : 20030829 0000914064-03-000120.hdr.sgml : 20030829 20030829104241 ACCESSION NUMBER: 0000914064-03-000120 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030731 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030829 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: 03872741 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 finjuly.txt CDF FINANCING LLC 7/31/03 8-K August 28, 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 August 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 7/31/2003 EX-2 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-1 Reporting for period ending 7/31/2003 EX-3 Distribution Financial Services Floorplan Master Trust Distribution Date Statement Series 2003-2 Reporting for period ending 7/31/2003 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: August 28, 2003 By: /s/ W. Steven Culp Title: Manager Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Compliance/Statistical Reporting For the Period Ending 7/31/2003 Calculation Of Pool Balance 1 Total "Office" Receivables 3,216,811,719 2 Less Ineligible Receivables: 3 Removal of Ineligible Accounts (23,391,759) 4 SAU/NSF 0-30 in excess of .75% of Trust Receivables 0 5 NSF Over 30 Days Office (584,725) 6 SAU Over 30 Days Office (3,843,135) 7 Total Principal Receivables 3,188,992,100 8 Discount Factor 0.50% 9 End of month Pool Balance 3,173,047,140 Total Trust Receivables-Delinquency 10 NSF 1-30 Office 212,144 11 SAU 1-30 Office 12,400,459 12 Total 12,612,603 13 Trust Receivables 3,216,811,719 14 .75 % of Trust Receivables 0.75% 15 Total 24,126,088 16 Amount in Excess 0 17 NSF 30+ 584,725 18 SAU 30+ 3,843,135 4,427,860 Overconcentrations 19 End of month Pool Balance 3,173,047,140
Limits Actual Excess 20 A/R Receivables 20% 634,609,428 35,928,362 0 21 Asset Based Receivables 20% 634,609,428 313,067,095 0 22 Dealer concentration top 8 2.5% 79,326,179 114,923,680 35,597,501 23 Dealer concentration Other 2% 63,460,943 29,407,019 0 24 Manufacturer Concentration Top 3 15% 475,957,071 356,152,963 0 25 Manufacturer Concentration Other 10% 317,304,714 90,078,058 0 26 Product Line Concentration: 27 CE & Appl 25% 793,261,785 128,409,104 0 28 MIS 25% 793,261,785 306,638,331 0 29 Motorcycle 25% 793,261,785 517,997,683 0 30 Marine 35% 1,110,566,499 655,363,767 0 31 Manufacturered Home 25% 793,261,785 0 0 32 RV 35% 1,110,566,499 857,236,722 0 33 Music 25% 793,261,785 60,881,726 0 34 Industrial Equipment 25% 793,261,785 158,458,929 0 35 A/R 25% 793,261,785 348,995,457 0 36 Snowmobiles 25% 793,261,785 28,281,227 0 37 Other 25% 793,261,785 154,548,773 0 ok 38 Delayed Funding Receivables 306,407,645 5/31/2003 6/30/2003 7/31/2003 Average 39 Charge Offs to Receivables (Annualized) 0.17% 0.48% 1.33% 0.66% 40 Payment Rate 37.40% 39.00% 40.95% 39.12% Net Receivable Rate - Current Month 41 Interest 5.51% 42 Discount 2.46% 43 Total 7.97% 44 Less Servicing -2.00% 45 Remaining 5.97%
Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 07/31/03 Collection Period 07/01/03 07/31/03 Determination Date 08/14/03 Distribution Date 08/15/03
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 06/30/03 3,006,607,800 2 Plus: Account Additions 07/01/03 416,740,438 3 Beginning of month Principal Receivables 07/01/03 3,423,348,238 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 07/01/03 3,406,231,497 6 Beginning of month Dealer Overconcentrations 07/01/03 - Beginning of month 7 Unconcentrated Pool Balance 07/01/03 3,406,231,497 8 End of month Principal Receivables 07/31/03 3,188,992,100 9 Discount Factor 0.50% 10End of mo Pool Balance 07/31/03 3,173,047,140 11End of month Dealer Overconcentrations 07/31/03 35,597,501 12End of month Unconcentrated Pool Balance 07/31/03 3,137,449,639 13Overconcentrated % 07/31/03 1.12% 14Unconcentrated % 07/31/03 98.88% Certificates 15Beginning of month/closing date Invested Amount 07/01/03 7,502,341 750,000,000 716,250,000 22,500,000 11,250,000 16Allocation Percentage 07/01/03 0.27% 27.20% 25.97% 0.82% 0.41% 17End of month Invested Amount 07/31/03 35,597,501 750,000,000 716,250,000 22,500,000 11,250,000 18Principal Payments Outstanding Principal 08/14/03 - - - - - 19Balance 08/15/03 35,597,501 750,000,000 716,250,000 22,500,000 11,250,000 20Pool Factor 08/15/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 07/15/03 - 22Determination Date - Deposit 08/15/03 23Distribution Date Disbursement 08/15/03 - 24Excess Funding Account Balance 08/15/03 - Reserve Fund 25Required Amount 08/15/03 26,250,000 26Beginning Balance 07/15/03 26,250,000 27Deposits 07/15/03 08/15/03 21,187 28Disbursements 07/15/03 08/15/03 21,187 29Ending Balance 08/15/03 26,250,000 Collections 30Principal Allocation Percentage 07/31/03 1.05% 22.02% 21.03% 0.66% 0.33% 31Floating Allocation Percentage 07/31/03 1.05% 22.02% 21.03% 0.66% 0.33% 32Principal Collections 07/01/03 07/31/03 1,401,466,684 364,276 33Nonprincipal Collectio07/01/03 07/31/03 22,867,660 1,808 34Total Collections 07/01/03 07/31/03 1,424,334,344 366,084 Defaults 35Defaulted Amount 07/01/03 07/31/03 3,593,948 36Investor Default Amoun07/01/03 07/31/03 - 791,332 755,722 23,740 11,870 Interest 37Monthly Interest 08/15/03 - 781,574 725,865 29,002 26,707 38Interest Shortfall 08/15/03 - - - - - 39Additional Interest 08/15/03 - - - - - 40Total 08/15/03 - 781,574 725,865 29,002 26,707 Servicing Fee 41Certificate Balance for Servicing Fee determination 07/01/03 750,000,000 716,250,000 22,500,000 11,250,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 07/01/03 07/31/03 1,250,000 1,193,750 37,500 18,750 44Remaining Servicing Fee 08/15/03 1,250,000 1,193,750 37,500 18,750 Excess Servicing 45Nonprincipal Collectio07/01/03 07/31/03 22,867,660 1,808 46Servicer Advance Less Reimbursement of Servicer Advance 07/01/03 07/31/03 1,699,762 47Floating Allocation Percentage 1.05% 22.02% 21.03% 0.66% 0.33% 48Investor Nonprincipal Collections 07/01/03 07/31/03 1,808 5,035,109 4,808,529 151,053 75,527 49Investor portion of Servicer Advance Less Reimbursement 07/01/03 07/31/03 - 374,262 357,420 11,228 5,614 50Plus: Investment Proc07/01/03 07/31/03 - 21,207 51Less: 52Monthly Interest 08/14/03 - 781,574 725,865 29,002 26,707 53Prior Monthly Interest 08/14/03 - - - - - 54Additional Interest 08/14/03 - - - - - 55Reserve Fund Deposit 08/14/03 - - - - - 56Default Amount 07/01/03 07/31/03 - 791,332 755,722 23,740 11,870 57Charge-Offs 07/01/03 07/31/03 - - - - - 58Monthly Servicing Fee 08/15/03 - 1,250,000 1,193,750 37,500 18,750 59Carry-over Amount 08/15/03 - - - - - 60Carry-over Amount 61 Additional Interest 08/15/03 - - - - - 62Balance: Excess Servi07/01/03 07/31/03 1,808 2,607,672 Collection Account 63Beginning Balance 07/15/03 - 64Deposits 07/15/03 08/15/03 1,155,836 65Disbursements 07/15/03 08/15/03 1,155,836 66Ending Balance 08/15/03 - Interest Funding Account 67Beginning Balance 07/15/03 - 68Deposits 07/15/03 08/15/03 781,595 69Disbursements 07/15/03 08/15/03 781,595 70Ending Balance 08/15/03 - Principal Funding Account 71Beginning Balance 07/15/03 - 72Deposits 07/15/03 08/15/03 - 73Disbursements 07/15/03 08/15/03 - 74Ending Balance 08/15/03 - Interest Rate for the Next Period 75One-month LIBOR 08/15/03 09/14/03 1.11000% 76Net Receivables Rate 07/31/03 5.97108%
Floorplan Receivables, L.P. Distribution Financial Services Floorplan Master Trust Distribution Date Statement Report Date 07/31/03 Collection Period 07/01/03 07/31/03 Determination Date 08/14/03 Distribution Date 08/15/03
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 06/30/03 3,006,607,800 2 Plus: Account Additions 07/01/03 416,740,438 3 Beginning of month Principal Receivables 07/01/03 3,423,348,238 4 Discount Factor 0.50% Beginning of month Pool 5 Balance 07/01/03 3,406,231,497 6 Beginning of month Dealer Overconcentrations 07/01/03 - Beginning of month 7 Unconcentrated Pool Balance 07/01/03 3,406,231,497 8 End of month Principal Receivables 07/31/03 3,188,992,100 9 Discount Factor 0.50% 10End of month Pool Balance 07/31/03 3,173,047,140 11End of month Dealer Overconcentrations 07/31/03 35,597,501 12End of month Unconcentrated Pool Balance 07/31/03 3,137,449,639 13Overconcentrated Percentage 07/31/03 1.12% 14Unconcentrated Percentage 07/31/03 98.88% Certificates 15Beginning of month/closing date Invested Amount 07/01/03 7,502,341 1,000,000,000 955,000,000 30,000,000 15,000,000 16Allocation Percentage 07/01/03 0.27% 36.26% 34.63% 1.09% 0.54% 17End of month Invested Amount 07/31/03 35,597,501 1,000,000,000 955,000,000 30,000,000 15,000,000 18Principal Payments Outstanding Principal 08/14/03 - - - - - 19Balance 08/15/03 35,597,501 1,000,000,000 955,000,000 30,000,000 15,000,000 20Pool Factor 08/15/03 1.00000 1.00000 1.00000 Excess Funding Account 21End of month balance 07/15/03 - 22Determination Date deposit Deposit 08/15/03 23Distribution Date Disbursement 08/15/03 - 24Excess Funding Account Balance 08/15/03 - Reserve Fund 25Required Amount 08/15/03 35,000,000 26Beginning Balance 07/15/03 35,000,000 27Deposits 07/15/03 08/15/03 28,249 28Disbursements 07/15/03 08/15/03 28,249 29Ending Balance 08/15/03 35,000,000 Collections 30Principal Allocation Percentage 07/31/03 1.05% 29.36% 28.04% 0.88% 0.44% 31Floating Allocation Percentage 07/31/03 1.05% 29.36% 28.04% 0.88% 0.44% 32Principal Collections 07/01/03 07/31/03 1,401,466,684 364,276 33Nonprincipal Collectio07/01/03 07/31/03 22,867,660 1,808 34Total Collections 07/01/03 07/31/03 1,424,334,344 366,084 Defaults 35Defaulted Amount 07/01/03 07/31/03 3,593,948 36Investor Default Amoun07/01/03 07/31/03 - 1,055,110 1,007,630 31,653 15,827 Interest 37Monthly Interest 08/15/03 - 1,071,420 992,491 40,736 38,193 38Interest Shortfall 08/15/03 - - - - - 39Additional Interest 08/15/03 - - - - - 40Total 08/15/03 - 1,071,420 992,491 40,736 38,193 Servicing Fee 41Certificate Balance for Servicing Fee determination 07/01/03 1,000,000,000 955,000,000 30,000,000 15,000,000 42Servicing Fee Rate 2.00% 2.00% 2.00% 2.00% 43Servicing Fee 07/01/03 07/31/03 1,666,667 1,591,667 50,000 25,000 44Remaining Servicing Fee 08/15/03 1,666,667 1,591,667 50,000 25,000 Excess Servicing 45Nonprincipal Collectio07/01/03 07/31/03 22,867,660 1,808 46Servicer Advance Less Reimbursement of Servicer Advance 07/01/03 07/31/03 1,699,762 47Floating Allocation Percentage 1.05% 29.36% 28.04% 0.88% 0.44% 48Investor Nonprincipal Collections 07/01/03 07/31/03 1,808 6,713,477 6,411,371 201,404 100,702 49Investor portion of Servicer Advance Less Reimburse07/01/03 07/31/03 - 499,015 476,560 14,970 7,485 50Plus: Investment Proc07/01/03 07/31/03 - 28,277 51Less: 52Monthly Interest 08/14/03 - 1,071,420 992,491 40,736 38,193 53Prior Monthly Interest 08/14/03 - - - - - 54Additional Interest 08/14/03 - - - - - 55Reserve Fund Deposit 08/14/03 - - - - - 56Default Amount 07/01/03 07/31/03 - 1,055,110 1,007,630 31,653 15,827 57Charge-Offs 07/01/03 07/31/03 - - - - - 58Monthly Servicing Fee 08/15/03 - 1,666,667 1,591,667 50,000 25,000 59Carry-over Amount 08/15/03 - - - - - 60Carry-over Amount 61 Additional Interest 08/15/03 - - - - - 62Balance: Excess Servi07/01/03 07/31/03 1,808 3,447,572 Collection Account 63Beginning Balance 07/15/03 - 64Deposits 07/15/03 08/15/03 1,570,435 65Disbursements 07/15/03 08/15/03 1,570,435 66Ending Balance 08/15/03 - Interest Funding Account 67Beginning Balance 07/15/03 - 68Deposits 07/15/03 08/15/03 1,071,449 69Disbursements 07/15/03 08/15/03 1,071,449 70Ending Balance 08/15/03 - Principal Funding Account 71Beginning Balance 07/15/03 - 72Deposits 07/15/03 08/15/03 - 73Disbursements 07/15/03 08/15/03 - 74Ending Balance 08/15/03 - Interest Rate for the Next Period 75One-month LIBOR 08/15/03 09/14/03 1.11000% 76Net Receivables Rate 07/31/03 5.97108%
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