-----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, ET4BGISGRZmPHpOFM1SZd4RG6duzGGvfHo6uIJHo7Pf9q9D34a8CqCxjUwMZpQb5 ErGukRqN5k2bhNumWQT3sw== 0001025365-98-000003.txt : 19980302 0001025365-98-000003.hdr.sgml : 19980302 ACCESSION NUMBER: 0001025365-98-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980131 ITEM INFORMATION: FILED AS OF DATE: 19980227 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: HONDA AUTO RECEIVABLES 1997-A GRANTOR TRUST CENTRAL INDEX KEY: 0001025365 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330526079 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-18095 FILM NUMBER: 98551704 BUSINESS ADDRESS: STREET 1: P O BOX 2295 STREET 2: 700 VAN NESS AVE CITY: TORRANCE STATE: CA ZIP: 90509-2295 BUSINESS PHONE: 3107814318 MAIL ADDRESS: STREET 1: P O BOX 2295 STREET 2: P O BOX 2295 CITY: TORRANCE STATE: CA ZIP: 90509-2295 FORMER COMPANY: FORMER CONFORMED NAME: HONDA AUTO RECEIVABLES 1996-A GRANTOR TRUST DATE OF NAME CHANGE: 19970723 8-K 1 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 (Date of earliest event reported): February 15, 1998 Honda Auto Receivables 1997-A Grantor Trust (Exact name of registrant specified in its charter) California 333-18095 33-0526079 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) American Honda Receivables Corp. 700 Van Ness Avenue Torrance, CA 90501 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310) 781-4100 Item 5. Other Events On February 15, 1998, the Principal and interest collected during the preceding calendar month, net of certain adjustments as provided for in the Pooling and Servicing Agreement dated as of July 1, 1997 (the "Agreement"), between American Honda Receivable Corporation, as Seller, American Honda Finance Corporation, as Servicer, and The Bank of Tokyo-Mitsubishi Trust Company of New York, as Trustee (the "Trustee"), were distributed to holders ("Certificateholders") of certificates representing undivided fractional interests in Honda Auto Receivables 1997-A Grantor Trust. In accordance with the Agreement, the Servicer's Certificate, as defined in the Agreement, was furnished to the Trustee for the benefit of the Certificateholders and, as such, was distributed by the Trustee to the Certificateholders. A copy of the Servicer's Certificate is being filed as Exhibit 20 to this Current Report on Form 8-K. Item 7 (c). Exhibits 20 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1933, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Honda Auto Receivables 1997-A Grantor Trust By: American Honda Finance Corporation, as Servicer By: /s/ John Weisickle John Weisickle, Vice President / Finance EX-20 2
AMERICAN HONDA FINANCE CORPORATION MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust January 1, through January 31, 1998 A. ORIGINAL DEAL PARAMETER INPUTS (A) Original Total Portfolio $1,080,049,608.67 (B) Class A Certificate Ownership Interest of the Trust 93.75% (C) Original Class A Certificate Balance $1,012,546,508.13 (D) Class A Certificate Rate 5.85% (E) Original Class B Certificate Balance $67,503,100.54 (F) Class B Certificate Rate 5.85% (G) Servicing Fee Rate 1.00% (H) Original Weighted Average Coupon (WAC) 7.59% (I) Original Weighted Average Remaining Term (WAM) 42.14 months (J) Number of Contracts 90,365 (K) Reserve Fund (i) Reserve Fund Initial Deposit Percentage 0.15% (ii) Reserve Fund Initial Deposit $1,620,074.41 (iii) Specified Reserve Fund Balance Percent 0.75% (iv) Specified Reserve Fund Balance $8,100,372.07 (v) Reserve Fund Floor Percent 1.50% (vi) Reserve Fund Floor Amount $16,200,744.13 (vii) Reserve Fund Floor Trigger Amount $324,014,882.40 (L) Original Yield Supplement Deposit $11,931,514.53 (M) Original Letter of Credit Amount $84,000,000.00 B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS (A) Total Portfolio Outstanding 860,345,744.89 (B) Total Portfolio Pool Factor 0.7965798 (C) Class A Certificate Balance 806,574,135.83 (D) Class A Principal Factor 0.7965798 (E) Class B Certificate Balance $53,771,609.06 (F) Reserve Fund Balance 6,761,408.88 (G) Outstanding Interest Advance 1,353,119.64 (H) Payahead Account Balance 1,671,198.43 (I) Cumulative Net Losses for All Prior Periods 1,384,119.65 (J) Weighted Average Coupon of Remaining Portfolio (WAC) 7.63% (K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 36.95 months (L) Number of Contracts 83,714 (M) Yield Supplement Balance 8,222,411.10 (N) Letter of Credit Amount 77,817,473.58 C. INPUTS FROM THE MAINFRAME (A) Precomputed Contracts Principal (i) Scheduled Principal Collections 6,231,365.65 (ii) Prepayments in Full $2,436,434.06 (iii) Prepayments in Full Due to Repurchases $0.00 (B) Precomputed Contracts Total Collections $10,025,329.94 (C) Simple Interest Contracts (i) Collected Principal 25,471,248.33 (ii) Collected Interest 4,263,462.96 (iii) Repurchased Receivables Principal 0.00 (iv) Repurchased Receivables Interest 0.00 (D) Payment Advance for Precomputes (i) Reimbursement of Previous Advances 480,604.38 (ii) Current Advance Amount 420,204.02 (E) Interest Advance for Simple Interest - Net (If positive, Additiona 0.00 (F) Payahead Account (i) Payments Applied 399,245.83 (ii) Additional Payaheads 468,508.43 (G) Weighted Average Coupon of Remaining Portfolio (WAC) 7.64% (H) Weighted Average Remaining Maturity of Remaining Portfolio (WAM) 36.10 months (I) Remaining Number of Contracts 82,529 (J) Delinquent Contracts Contracts Amount (i) 31-60 Days Delinquent 732 0.89% $9,288,645 1.13% (ii) 61-90 Days Delinquent 121 0.15% 1,649,249 0.20% (iii) Over 90 Days Delinquent 53 0.06% 725,745 0.09% D. INPUTS DERIVED FROM OTHER SOURCES (A) Collection Account Investment Income -- Paid to Servicer 0.00 (B) Reserve Fund Investment Income -- Paid to Seller 32,666.63 (C) Investment Income on Yield Supplement Balance 42,564.88 (D) Aggregate Net Losses for Collection Period 516,304.53 (E) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables 1,210,305.85 (ii) Net Liquidation Proceeds Received During the Collection Peri 619,322.64 (iii) Recoveries on Previously Liquidated Contracts 74,678.68 (F) Number of Vehicles Repossessed During the Collection Period 81 AMERICAN HONDA FINANCE CORPORATION MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust January 1, through January 31, 1998 I. COLLECTIONS (A) Principal Payments Received (Excluding Repurchases) (C(A)i+ii + C( $34,139,048.04 (B) Interest Payments Received (C(B) - (C(A)i+ii+iii + C(ii) - D(i) + 5,560,592.83 (C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii) 694,001.32 (D) Principal on Repurchased Contracts (C(A)iii + C(C)iii) 0.00 (E) Interest on Repurchased Contracts (C(C)iv) 0.00 (F) Total Collections (A+B+C+D+E) 40,393,642.19 (G) Net Simple Interest Advance Amount (C(E)) 0.00 (H) Total Collections and Advances (F+G) 40,393,642.19 (I) Yield Supplement Deposit 559,622.91 (J) Total Available Amount (F+G+H) 40,953,265.10 II. DISTRIBUTIONS (A) Principal Payments Received (Excluding Repurchases) (I(A)) 34,139,048.04 (B) Principal on Repurchased Contracts (I(D)) 0.00 (C) Gross Principal Balance of Liquidated Receivables (D(D)i) 1,210,305.85 (D) Total Principal Reduction (A+B+C) 35,349,353.89 (E) Class A Distributable Amount (i) Class A Monthly Interest Payment (A(D)*B(C)) 3,932,048.91 (ii) Monthly Principal to Class A (B(C)-(III(i)*A(B)) 33,140,019.27 (iii) Total Distributable Amount (i+ii) 37,072,068.18 (F) Class B Distributable Amount (i) Class B Monthly Interest Payment (A(F)*B(E)) 262,136.59 (ii) Monthly Principal to Class B (II(D)-(E)ii) 2,209,334.62 (iii) Total Distributable Amount (i+ii) 2,471,471.21 (G) Required Distributions (i) Servicing Fee (A(G)*B(A)) 716,954.79 (ii) Class A Amount (II(E)iii) 37,072,068.18 (iii) Deposit to Reserve Fund (If Positive (IV(H)-(A))) 692,770.92 (iv) Class B Amount (II(F)iii) 2,471,471.21 (v) Residual Release to Seller 0.00 (vi) Total Amount Distributed (i+ii+iii+iv+v) 40,953,265.10 (H) Amount of Draw from Reserve Fund (IV(B+C+D)) 0.00 (I) Sum of Draw from Reserve Fund and Total Available Amount (I(H)+II( 40,953,265.10 III. POOL BALANCES AND PORTFOLIO INFORMATION Beginning End of Period of Period (A) Balances and Principal Factors (i) Total Pool Balance 860,345,744.89 824,996,391.00 (ii) Total Pool Factor 0.7965798 0.7638505 (iii) Class A Certificate Balance 806,574,135.83 773,434,116.56 (iv) Class A Principal Factor 0.7965798 0.7638505 (v) Class B Certificate Balance 53,771,609.06 51,562,274.44 (B) Portfolio Information (i) Weighted Average Coupon (WA 7.63% 7.64% (ii) Weighted Average Remaining months months (iii) Remaining Number of Contrac 82,529 (C) Outstanding Advance Amount $1,353,119.64 $1,292,719.28 (D) Outstanding Payahead Balance $1,671,198.43 $1,740,461.03 IV. RECONCILIATION OF RESERVE FUND (A) Beginning Reserve Fund Balance (B(F)) $6,761,408.88 (B) Draw for Class A Distributa(If Positive ((II(E)iii+(G)i)-I(H))) 0.00 (i) Contribution from Seller to fund new floor amount per Article I of Pooling and Servicing Agreement (C) Draw for Class B Distributable Amount and Servicing Fee 0.00 (If Positive ((II(E)iii + II(F)(iii) + (G)i) - (I(H)+IV(B))) (D) Amount Available for Deposit to the Reserve Fund $692,770.92 (If Positive (I(H) - (II(E)iii + II(F)(iii) + (G)i))) (E) Reserve Fund Balance Prior to Release (IV(A-B-C+D)) $7,454,179.80 (F) Reserve Fund Required Amount (Was Trigger or Floor Hit?) $8,100,372.07 (G) Reserve Fund Release to Seller 0.00 (If Positive (E-F)) (H) Ending Reserve Fund Balance (E-G) $7,454,179.80 V. YIELD SUPPLEMENT ACCOUNT DEPOSIT (A) Beginning Yield Supplement Account Balance $8,222,411.10 (B) Investment Earnings $42,564.88 (C) Additional Yield Supplement Amounts $0.00 (D) Yield Supplement Deposit Amount $559,622.91 (E) Ending Yield Supplement Account Balance $7,705,353.07 (F) Release Amount Due Seller 362,043.39 (G) Ending Yield Supplement Account Balance to be Invested 7,343,309.68 V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY (A) Aggregate Net Losses for Collection Period (V(B)i-ii-iii) 516,304.53 (B) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables (D(D)i) 1,210,305.85 (ii) Net Liquidation Proceeds Received During the Collection Peri 619,322.64 (iii) Recoveries on Previously Liquidated Contracts (D(D)iii) 74,678.68 (C) Cumulative Net Losses for all Periods (V(A)+B(H)) 1,900,424.18 (D) Delinquent and Repossessed Contracts Contracts Amount (i) 31-60 Days Delinquent 732 0.89% 9,288,645.00 # (ii) 61-90 Days Delinquent 121 0.15% 1,649,249.00 # (iii) Over 90 Days Delinquent 53 0.06% 725,745.00 # (iv) Vehicles Repossessed During 81 0.10% 1,178,032.39 # (v) Total Accumulated Repossesse 167 0.20% 2,282,407.38 VI. TESTS FOR INCREASE IN RESERVE FUND BALANCE (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period. (i) Second Preceeding Collection Period 0.53% (ii) Preceeding Collection Period 0.74% (iii) Current Collection Period 0.74% (iv) Three Month Average (Avg(i,ii,iii)) 0.67% (B) Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period. (i) Second Preceeding Collection Period 0.29% (ii) Preceeding Collection Period 0.37% (iii) Current Collection Period 0.41% (iv) Three Month Average (Avg(i,ii,iii)) 0.36% (C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit VII. LETTER OF CREDIT SUMMARY (A) Original Letter ofCredit Amount (A(L)) 84,000,000.00 (B) Reset Percentage (# of contracts end of period / Original # of con 91.33% (C) Less Draws 0.00 (D) Balance End of Period ((VIII(A) * VIII(B) - VIII(C)) 76,715,940.91 I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. /s/ John Weisickle John Weisickle, Vice President / Finance
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