-----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, UjQ02PJUVOSwKByRY0HB2FqC5aSbaT40EsOvylJMRAoYRhv2g3hFwHZ01CHgvwlO pzZO7L/F+a0+LGJ+fe5M+g== 0000950109-97-000597.txt : 19970131 0000950109-97-000597.hdr.sgml : 19970131 ACCESSION NUMBER: 0000950109-97-000597 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19970130 ITEM INFORMATION: Other events FILED AS OF DATE: 19970130 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DAYTON HUDSON RECEIVABLES CORP CENTRAL INDEX KEY: 0000946115 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 411812153 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26930 FILM NUMBER: 97514330 BUSINESS ADDRESS: STREET 1: 777 NICOLLET MALL CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 6123706530 MAIL ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: 14TH FLOOR STE 1401 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 8-K 1 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 30, 1997 DAYTON HUDSON RECEIVABLES CORPORATION ------------------------------------- (Exact name of registrant as specified in its charter) Minnesota --------- (State or other jurisdiction of incorporation) 0-26930 41-1812153 ------- ---------- (Commission File Number) (I.R.S. Employer Identification Number) Dayton Hudson Receivables Corporation 80 South Eighth Street 14th Floor, Suite 1401 Minneapolis, Minnesota 55402 (612)370-6530 (Address, including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Office) Page 1 of 11 Pages The Exhibit Index Appears on Page 3 Item 5: Other Events - --------------------- The Monthly Servicer's Certificate for the Monthly Period ended January 4, 1997 and the Monthly Certificateholders' Statement for the Monthly Period ended January 4, 1997, both with respect to the Class A Asset Backed Certificates, 6.10% Series 1995-1 and the Class B Asset Backed Certificates, Series 1995-1, issued by the Dayton Hudson Credit Card Master Trust, were delivered to the Trustee on January 22, 1997, and the Monthly Certificateholders' Statement was then distributed to Certificateholders on January 27, 1997. The above described Monthly Servicer's Certificate is filed as Exhibit 20.1 to this Report. The above described Monthly Certificateholders' Statement is filed as Exhibit 20.2 to this Report. 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 thereunto duly authorized. Dated: January 30, 1997 DAYTON HUDSON RECEIVABLES CORPORATION By: /s/ Stephen C. Kowalke Name: Stephen C. Kowalke Title: Vice President and Treasurer EXHIBIT INDEX ------------- Sequentially Exhibit Number Description Numbered Page - -------------- ----------- ------------- 20.1 Monthly Servicer's Certificate for 4 the Monthly Period ended January 4, 1997. 20.2 Monthly Certificateholders' 6 Statement for the Monthly Period ended January 4, 1997. EX-20.1 2 MONTHLY SERVICER'S CERTIFICATE EXHIBIT 20.1 MONTHLY SERVICER'S CERTIFICATE RETAILERS NATIONAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1 The undersigned, a duly authorized representative of Retailers National Bank, as Servicer ("RNB") pursuant to the Pooling and Servicing Agreement dated as of September 13, 1995 (as may be amended, from time to time, the "Agreement") as supplemented by the Series 1995-1 Supplement (as amended and supplemented, the "Series Supplement"), among RNB, Dayton Hudson Receivables Corporation and Norwest Bank Minnesota, National Association, does hereby certify as follows: 1. Capitalized terms used in this Certificate have their respective meanings as set forth in the Agreement or the Series Supplement, as applicable. 2. RNB is, as of the date hereof, the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This certificate relates to the Distribution Date occuring on January 27, 1997. 5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Monthly Period preceding such Distribution Date. 6. As of the date hereof, to the best knowledge of the undersigned, no Early Amortization Event occurred on or prior to such Distribution Date. 7. The aggregate amount of Collections processed for the preceding Monthly Period was equal to $414,623,961.71. 8. The aggregate amount of Collections of Finance Charge Receivables (including Discounted Receivables) for the preceding monthly period was equal to $38,086,241.70. 9. The aggregate amount of Collections of Principal Receivables for the preceding Monthly period was equal to $376,537,720.01. 10. The aggregate amount of the Defaulted Amount for the preceding Monthly Period was equal to $10,336,053.58. 11. The aggregate amount of Recoveries for the preceding Monthly Period was equal to $1,874,882.44. 12. The Portfolio Yield for the preceding Monthly Period was equal to 14.39%. 13. The Base Rate for the preceding Monthly Period was equal to 6.67%. 14. The aggregate amount of Receivables as of the end of the last day of the preceding Monthly Period was equal to $2,343,504,723.21. 15. The balance on deposit in the Collection Account with respect to Collections processed as of the end of the last day of the preceding monthly period was equal to $2,033,333.34. 16. The aggregate amount of Adjustments for the preceding Monthly Period was equal to $103,671,600.02. 17. The aggregate amount of withdrawals, drawings or payments under any Enhancement to be made with respect to the preceding Monthly Period is equal to $0.00. 18. The total amount to be distributed to Investor Certificateholders on the Distribution Date is equal to $2,033,333.34. 19. The amount to be distributed to Investor Certificateholders on the Distribution Date per $1,000 original principal amount is equal to: Class A 5.083 20. The amount of such distribution allocable to principal is equal to $0.00. 21. The amount of such distribution allocable to principal per $1,000 original principal amount is equal to: Class A 0.000 22. The amount of such distribution allocable to interest is equal to $2,033,333.34. 23. The amount of such distribution allocable to interest per $1,000 original principal amount is equal to: Class A 5.083 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Servicer's Certificate this 22nd day of January, 1997. RETAILERS NATIONAL BANK, as servicer By: /s/ Thomas A. Swanson ---------------------------- Name: Thomas A. Swanson Title: Vice President & Cashier EX-20.2 3 MONTHLY CERTIFICATEHOLDERS' STATEMENT MONTHLY CERTIFICATEHOLDERS' STATEMENT RETAILERS NATIONAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1 Pursuant to the Pooling and Servicing Agreement, dated as of September 13, 1995 (as may be amended, from time to time, the "Agreement"), as supplemented by the Series 1995-1 Supplement (as amended and Supplemented, the "Series Supplement"), each among Retailers National Bank, as Servicer, Dayton Hudson Receivables Corporation, as Transferor, and Norwest Bank Minnesota, National Association, as Trustee, the Servicer is required to prepare certain information each month regarding distributions to Certificateholders and the performance of the Trust. The information with respect to the applicable Distribution Date and Monthly Period is set forth below.
Monthly Period: December 1996 Distribution Date: January 27, 1997 - ------------------------------------------------------------------------------------------------------------------------------------ No. of Days in Period: 35 --------------------------------------------------------------------------------------------------------------------- A. ORIGINAL DEAL PARAMETERS (a) Class A Initial Invested Amount $ 400,000,000.00 76.50% (b) Class B Initial Invested Amount 122,875,817.00 23.50% --------------- (c) Total Initial Invested Amount $ 522,875,817.00 ==================== (d) Class A Certificate Rate 6.10% (e) Class B Certificate Rate 0.00% (f) Servicing Fee Rate 2.00% (g) Discount Percentage 0.00% ----------------------------------------------------------------------------------------------------------------- I. RECEIVABLES IN THE TRUST ----------------------------------------------------------------------------------------------------------------- (a) Beginning of the Period Principal Receivables $ 1,984,148,502.69 (b) Beginning of the Period Finance Charge Receivables 56,007,433.54 (c) Beginning of the Period Discounted Receivables - ------------------ (d) Beginning of the Period Total Receivables (a + b + c) $ 2,040,155,936.23 =================== (e) Removed Principal Receivables $ - (f) Removed Finance Charge Receivables - ------------------ (g) Removed Total Receivables (e + f) $ - ================== (h) Supplemental Principal Receivables $ - (i) Supplemental Finance Charge Receivables - ------------------ (j) Supplemental Total Receivables (h + i) $ - ================== (k) End of Period Principal Receivables $ 2,284,349,975.98 (l) End of Period Finance Charge Receivables 59,154,747.23 (m) End of Period Discounted Receivables - ------------------ (n) End of Period Total Receivables (k + l + m) $ 2,343,504,723.21 ===================
Page 1 of 6 MONTHLY CERTIFICATEHOLDERS' STATEMENT RETAILERS NATIOAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1
II. INVESTED AMOUNTS AND ALLOCATION PERCENTAGES ================================================================================================================== (a) Class A Initial Invested Amount $ 400,000,000.00 76.50% (b) Class B Initial Invested Amount 122,875,817.00 23.50% --------------- (c) Total Initial Invested Amount (a + b) $ 522,875,817.00 - ----------------------------------------------------------------------------------------------------------------------- (d) Class A Invested Amount (a - (X.a)) $ 400,000,000.00 76.50% (e) Class B Invested Amount (b - (X.e)) 122,875,817.00 23.50% --------------- (f) Total Invested Amount (d + e) $ 522,875,817.00 (g) Class A Adjusted Invested Amount (a - (X.a)-(III.f)) $ 400,000,000.00 76.50% (h) Class B Invested Amount (b - (X.e)) 122,875,817.00 23.50% --------------- (i) Total Adjusted Invested Amount (g + h) $ 522,875,817.00 (j) Floating Allocation Percentage 26.35% (k) Class A Floating Allocation Percentage 20.16% (l) Class B Floating Allocation Percentage 6.19% (m) Principal Allocation Percentage 26.35% (n) Class A Principal Allocation Percentage 20.16% (o) Class B Principal Allocation Percentage 6.19% (p) Servicing Fee $ 871,459.70 (q) Investor Defaulted Amount (j * (IV.(m))) $ 2,723,824.58 III. TRANSFEROR'S INTEREST, RETAINED INTEREST, SPECIAL FUNDING ACCOUNT, AND PRINCIPAL FUNDING ACCOUNT ======================================================================================================================= (a) Transferor's Amount (end of month) $ 1,529,609,601.18 (b) Required Retained Transferor Amount $ 45,686,999.52 (c) Required Principal Balance $ 754,740,374.80 (e) Funds on deposit in Special Funding Account (end of month) $ - (f) Principal on deposit in Principal Funding Account (end of month) $ -
Page 2 of 6 MONTHLY CERTIFICATEHOLDERS' STATEMENT RETAILERS NATIONAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1
IV. PERFORMANCE SUMMARY ===================================================================================================== COLLECTIONS: ------------ (a) Collections of Principal Receivables $ 376,537,720.01 (b) Collections of Finance Charge Receivables (from cardholder payments) 31,799,536.30 (c) Collections of Finance Charge Receivables (from merchant fees, 6,286,705.40 deferred billing fees, collection account interest) (d) Collections of Discount Option Receivables 0.00 ---- (e) Total Finance Charge Collections (b + c + d) $ 38,086,241.70 -------------------- (f) Total Collections (a + e) $ 414,623,961.71 ==================== DELINQUENCIES AND LOSSES: ------------------------ (g) 2 missed payments $ 68,222,713 (h) 3 missed payments 29,419,607 (i) 4 or more missed payments 56,162,308 ------------------- (j) Total delinquencies (g + h + i) $ 153,804,628 =================== (k) Gross Charge-Offs during the month $ 12,210,936.02 (l) Recoveries during the month $ 1,874,882.44 (m) Net Charge-Offs during the month (k - l) $ 10,336,053.58 V NON-U.S. ACCOUNTS ===================================================================================================== (a) Non-US Accounts at end of month 184,526 (b) as a percentage of total (a / c) 0.84% (c) Total number of Accounts in Trust (at end of month) 21,860,497
Page 3 of 6 MONTHLY CERTIFICATEHOLDERS' STATEMENT RETAILERS NATIONAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1
VI AVAILABLE SERIES 1995-1 FINANCE CHARGE COLLECTIONS AND APPLICATION OF FUNDS ============================================================================================================================ (a) Floating Allocation Percentage of Collections of Finance Charge Receivables $ 10,036,736.02 (b) Investment earnings on Principal Funding Account - (c) Investment earnings in Reserve Account deposited in the Collection Account - (d) Reserve draw Amount deposited into the Collection Account - --------------------- (e) Available Series 1995-1 Finance Charge Collections (a + b + c + d) $ 10,036,736.02 (i) Class A Interest 2,033,333.34 (ii) Servicing Fee 871,459.70 (iii) Class A Investor Defaulted Amount ((IV.m * (II.k)) 2,083,725.80 (iv) Class B Investor Defaulted Amount ((IV.m * (II.l )) 640,098.78 (v) Adjustment Payment Shortfalls - (vi) Reimbursement of Class A Investor Charge-Offs - (vii) Reimbursement of Class B Investor Charge-Offs - and Reallocated Class B Principal Collections (viii) Class B Interest - (ix) Reserve Account - (x) Excess Finance Charge Collections $ 4,408,118.41 (e-i-ii-iii-iv-v-vi-vii-viii-ix)
Page 4 of 6 MONTHLY CERTIFICATEHOLDERS' STATEMENT RETAILERS NATIONAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1
VII YIELD and BASE RATE ========================================================================================================== Base Rate --------- (a) Base Rate (current month) 6.67% (b) Base Rate (prior month) 6.67% (c) Base Rate (2 months ago) 6.67% (d) 3 Month Average Base Rate 6.67% Portfolio Yield --------------- (e) Portfolio Yield (current month) 14.39% (f) Portfolio Yield (prior month) 19.64% (g) Portfolio Yield (2 months ago) 21.09% (h) 3 Month Average Portfolio Yield 18.37% VIII PORTFOLIO PERFORMANCE RATES =============================================================================================================== (a) Net Charge-Offs (annualized % of Principal Receivables at beginning of 5.36% period) (b) Monthly Payment Rate (% of Principal Receivables at beginning of period 17.91% (adjusted for number of days in period)) (c) Trust Portfolio Yield (annualized) 19.74% (d) Portfolio Yield (3 month average (annualized)) 18.37% (e) Base Rate (3 month average) 6.67% (f) Excess Finance Charge Collections % (d - e) 11.70%
Page 5 of 6 MONTHLY CERTIFICATEHOLDERS' STATEMENT RETAILERS NATIONAL BANK DAYTON HUDSON CREDIT CARD MASTER TRUST SERIES 1995-1
IX PRINCIPAL COLLECTIONS -------------------------------------------------------------------------------------------------------------------------- (a) Class A Principal Allocation Percentage 20.16% (b) Class A Principal $ - (c) Class B Principal Allocation Percentage 6.19% (d) Class B Principal $ - (e) Total Principal (b + d) $ - (f) Reallocated Principal Collections $ - (g) Shared Principal Collections allocable from other Series and Participation $ - X INVESTOR CHARGE-OFFS -------------------------------------------------------------------------------------------------------------------------- CLASS A INVESTOR CHARGE-OFFS ---------------------------- (a) Class A Investor Charge-Offs $ - (b) Class A Investor Charge-Offs per $1,000 original certificate principal amount $ - (c) Total amount reimbursed in respect of Class A Investor Charge-Offs $ - (d) The amount, if any, by which the outstanding principal balance of the Class $ - A Certificates exceeds the Class A Invested Amount after giving effect to all transactions on such Distribution Date. CLASS B INVESTOR CHARGE-OFFS ---------------------------- (e) Class B Investor Charge-Offs $ - (f) Class B Investor Charge-Offs per $1,000 original certificate principal amount $ - (g) Total amount reimbursed in respect of Class B Investor Charge-Offs $ - (h) The amount, if any, by which the outstanding principal balance of the Class B $ - Certificates exceeds the Class B Invested Amount after giving effect to all transactions on such Distribution Date. XI AMORTIZATION -------------------------------------------------------------------------------------------------------------------------- (a) Class A Accumulation Period Length (months) 12 (b) Controlled Accumulation Amount $ 33,333,333.34 (c) Deficit Controlled Accumulation Amount $ - (d) Total Principal on deposit in Principal Funding Account for the benefit of Class $ - A Certificateholders
RETAILERS NATIONAL BANK, as servicer By: /s/ Thomas A. Swanson ---------------------------------------- Name: Thomas A. Swanson Title: Vice President & Cashier Page 6 of 6 -----END PRIVACY-ENHANCED MESSAGE-----