Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Collections and Distribution
14-Dec-01
Collection Period November 2, 2001 to December 1, 2001
Determination Date December 11, 2001
Distribution Date December 14, 2001
Available Amounts
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Scheduled Payments plus Payaheads, net of Excluded Amounts 4,973,221.06
Prepayment Amounts 575,867.24
Recoveries 12,407.17
Investment Earnings on Collection Account and Reserve Fund 8,821.52
Late Charges 11,058.58
Servicer Advances 159,470.71
Total Available Amounts 5,740,846.28
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Payments on Distribution Date
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(A)** Trustee Fees (only applicable pursuant to an Event of Default) 0.00
(A) Unreimbursed Servicer Advances to the Servicer 0.00
(B) Monthly Servicing Fee, if Heller Financial, Inc. is not the Servicer 0.00
(C) Interest due to Class A-1 Notes 0.00
(D) Interest due to Class A-2 Notes 0.00
(E) Interest due to Class A-3 Notes 358,630.47
(F) Interest due to Class A-4 Notes 380,594.75
(G) Interest due to Class B Notes 16,564.72
(H) Interest due to Class C Notes 16,901.80
(I) Interest due to Class D Notes 28,545.26
(J) Interest due to Class E Notes 18,356.02
(K) Class A-1 Principal Payment Amount 0.00
(L) Class A-2 Principal Payment Amount 0.00
(M) Class A-3 Principal Payment Amount 4,988,627.86
(N) Class A-4 Principal Payment Amount 0.00
(O) Class B Principal Payment Amount 0.00
(P) Class C Principal Payment Amount 0.00
(Q) Class D Principal Payment Amount 0.00
(R) Class E Principal Payment Amount 0.00
(S) Additional Principal to Class A-1 Notes 0.00
(T) Additional Principal to Class A-2 Notes 0.00
(U) Additional Principal to Class A-3 Notes 0.00
(V) Additional Principal to Class A-4 Notes 0.00
(W) Additional Principal to Class B Notes 0.00
(X) Additional Principal to Class C Notes 0.00
(Y) Additional Principal to Class D Notes 0.00
(Z) Additional Principal to Class E Notes 0.00
(AA) Monthly Servicing Fee, if Heller Financial, Inc. is the Servicer 0.00
(AB) Deposit to the Reserve Fund (67,374.60)
(AC) Excess to Certificateholder 0.00
Total distributions to Noteholders and Certificateholders 5,740,846.28
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Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Schedules
Trustee Fees, in Event of Default only
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Trustee fees due on Distribution Date 0.00
Unreimbursed Servicer Advances
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Unreimbursed Servicer Advances 0.00
Monthly Servicing Fee Schedule, if Servicing has been transferred
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(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 135,476,766.96
(iii) Servicing Fee ( ( (i) / 12 ) x (ii) ) 0.00
(iv) Servicing Fee accrued but not paid in prior periods 0.00
Total Servicing Fee due and accrued ( (iii) + (iv) ) 0.00
Servicing Fee carried forward 0.00
Monthly Servicing Fee distributed 0.00
Class A-1 Interest Schedule
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Opening Class A-1 principal balance -
Class A-1 Interest Rate 6.12905%
Number of days in Accrual Period 30
Current Class A-1 interest due 0.00
Class A-1 interest accrued but not paid in prior periods 0.00
Total Class A-1 interest due 0.00
Class A-1 interest carried forward 0.00
Class A-1 interest distribution 0.00
Class A-2 Interest Schedule
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Opening Class A-2 principal balance -
Class A-2 Interest Rate 6.50000%
Current Class A-2 interest due 0.00
Class A-2 interest accrued but not paid in prior periods 0.00
Total Class A-2 interest due 0.00
Class A-2 interest carried forward 0.00
Class A-2 interest distribution 0.00
Class A-3 Interest Schedule
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Opening Class A-3 principal balance 64,715,273.58
Class A-3 Interest Rate 6.65000%
Current Class A-3 interest due 358,630.47
Class A-3 interest accrued but not paid in prior periods 0.00
Total Class A-3 interest due 358,630.47
Class A-3 interest carried forward 0.00
Class A-3 interest distribution 358,630.47
Class A-4 Interest Schedule
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Opening Class A-4 principal balance 67,262,695.00
Class A-4 Interest Rate 6.79000%
Current Class A-4 interest due 380,594.75
Class A-4 interest accrued but not paid in prior periods -
Total Class A-4 interest due 380,594.75
Class A-4 interest carried forward -
Class A-4 interest distribution 380,594.75
Class B Interest Schedule
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Opening Class B principal balance 2,889,195.95
Class B Interest Rate 6.88000%
Current Class B interest due 16,564.72
Class B interest accrued but not paid in prior periods -
Total Class B interest due 16,564.72
Class B interest carried forward -
Class B interest distribution 16,564.72
Class C Interest Schedule
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Opening Class C principal balance 2,889,195.95
Class C Interest Rate 7.02000%
Current Class C interest due 16,901.80
Class C interest accrued but not paid in prior periods -
Total Class C interest due 16,901.80
Class C interest carried forward -
Class C interest distribution 16,901.80
Class D Interest Schedule
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Opening Class D principal balance 4,622,713.40
Class D Interest Rate 7.41000%
Current Class D interest due 28,545.26
Class D interest accrued but not paid in prior periods 0.00
Total Class D Interest due 28,545.26
Class D Interest carried forward 0.00
Class D Interest distribution 28,545.26
Class E Interest Schedule
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Opening Class E principal balance 2,311,356.38
Class E Interest Rate 9.53000%
Current Class E interest due 18,356.02
Class E interest accrued but not paid in prior periods 0.00
Total Class E Interest due 18,356.02
Class E Interest carried forward 0.00
Class E Interest distribution 18,356.02
Class A-1 Principal Schedule
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Class A-1 Maturity Date January 6, 2001
(i) Opening Class A-1 principal balance 0.00
(ii) Aggregate outstanding principal of Notes plus Overcollateralization Balance 144,690,430.26
(iii) ADCB as of last day of the Collection Period 129,945,328.30
Monthly Principal Amount ((ii) - (iii)) 14,745,101.96
(iv) Class A-1 Principal Payment Amount 0.00
Class A-1 Principal Payment Amount due (lesser of (i) or (iv)) 0.00
Class A-1 Principal Payment Amount distribution 0.00
Principal carryforward Class A-1 0.00
Class A-1 Principal Balance after current distribution 0.00
Class A Principal Payment Amount
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(i) Aggregate opening Class A-1, A-2, A-3 and A-4 Outstanding Principal Amount 131,977,968.58
(ii) Class A Target Investor Principal Amount (94.0% * ending ADCB) 122,148,608.60
Class A Principal Payment Amount 9,829,359.98
Funds available for distribution after Class A-1 distribution 4,988,627.86
Class A-2 Principal Schedule
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Opening Class A-2 principal balance 0.00
Class A-2 Principal Payment Amount 0.00
Class A-2 Principal Payment Amount distribution 0.00
Principal carryforward Class A-2 0.00
Class A-2 principal balance after current distribution 0.00
Class A-3 Principal Schedule
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Opening Class A-3 principal balance 64,715,273.58
Class A-3 Principal Payment Amount 9,829,369,96
Class A-3 Principal Payment Amount distribution 4,988,627.86
Principal carryforward Class A-3 (4,840,732.12)
Class A-3 principal balance after current distribution 59,726,645.72
Class A-4 Principal Schedule
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Opening Class A-4 principal balance 67,262,695.00
Class A-4 Principal Payment Amount 0.00
Class A-4 Principal Payment Amount distribution 0.00
Principal carryforward Class A-4 0.00
Class A-4 principal balance after current distribution 67,262,695.00
Class B Principal Schedule
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Opening Class B principal balance 2,889,195.95
Class B Target Investor Principal Amount (1.25% * ending ADCB) 1,624,316.60
Class B Floor 6,799,964.13
Class B Principal Payment Amount due 0.00
Class B Principal Payment Amount distribution 0.00
Principal carryforward Class B 0.00
Class B principal balance after current distribution 2,889,195.95
Class C Principal Schedule
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Opening Class C principal balance 2,889,195.95
Class C Target Investor Principal Amount (1.25% * ending ADCB) 1,624,316.60
Class C Floor 2,889,195.95
Class C Principal Payment Amount due 0.00
Class C Principal Payment Amount distribution 0.00
Principal carryforward Class C 0.00
Class C principal balance after current distribution 2,889,195.95
Class D Principal Schedule
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Opening Class D principal balance 4,622,713.40
Class D Target Investor Principal Amount (2.00% * ending ADCB) 2,598,906.57
Class D Floor 4,622,713.40
Class D Principal Payment Amount due 0.00
Class D Principal Payment Amount distribution 0.00
Principal carryforward Class D 0.00
Class D principal balance after current distribution 4,622,713.40
Class E Principal Schedule
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Opening Class E principal balance 2,311,356.38
Class E Target Investor Principal Amount (1.00% * ending ADCB) 1,299,453.28
Class E Floor 2,311,356.38
Class E Principal Payment Amount due 0.00
Class E Principal Payment Amount distribution 0.00
Principal carryforward Class E 0.00
Class E principal balance after current distribution 2,311,356.38
Additional Principal Schedule
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Floors applicable (Yes/No) Yes
Monthly Principal Amount 14,745,101.96
Sum of Principal Payments payable on all classes 9,829,359.98
Additional Principal payable 4,915,741.98
Additional Principal available, if payable 0.00
Class A-1 Additional Principal allocation 0.00
Class A-1 principal balance after current distribution -
Class A-2 Additional Principal allocation 0.00
Class A-2 principal balance after current distribution -
Class A-3 Additional Principal allocation 0.00
Class A-3 principal balance after current distribution 59,726,645.72
Class A-4 Additional Principal allocation 0.00
Class A-4 principal balance after current distribution 67,262,695.00
Class B Additional Principal allocation 0.00
Class B principal balance after current distribution 2,889,195.95
Class C Additional Principal allocation 0.00
Class C principal balance after current distribution 2,889,195.95
Class D Additional Principal allocation 0.00
Class D principal balance after current distribution 4,622,713.40
Class E Additional Principal allocation 0.00
Class E principal balance after current distribution 2,311,356.38
Monthly Servicing Fee Schedule, if Heller Financial, Inc. is the Servicer
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(i) Servicing Fee Percentage 0.40%
(ii) ADCB of Contract Pool as of the 1st day of the Collection Period 135,476,766.96
(iii) Servicing Fee due ( ( (i) / 12 ) * (ii) ) 45,158.92
(iv) Servicing Fee accrued but not paid in prior periods 611,964.09
Total Servicing Fee due and accrued ((iii) + (iv)) 657,123.01
Servicing Fee carried forward 657,123.01
Monthly Servicing Fee distributed 0.00
Reserve Fund Schedule
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Initial ADCB 365,558,126.61
10% of Initial ADCB 36,555,812.66
Outstanding Principal Amount of the Notes as of the preceding
Distribution Date 144,690,430.26
ADCB as of the end of the Collection Period 129,945,328.30
Required Reserve Amount (beginning of the period aggregate note 1,012,833.01
balances *0.70%)
Prior month Reserve Fund balance 1,080,207.61
Deposit to Reserve Fund - excess funds 0.00
Interim Reserve Fund Balance 1,080,207.61
Current period draw on Reserve Fund for Reserve Interest Payments 0.00
Current period draw on Reserve Fund for Reserve Principal Payments 67,374.60
Excess to Certificateholder 0.00
Ending Reserve Fund balance 1,012,833.01
Reserve Fund balance as a percentage of aggregate note balances as
of the first day of the Collection Period 0.78%
Investment Earnings on Reserve Account 1,860.64
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Note Factors
Class A-1
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Class A-1 - principal balance -
Initial Class A-1 principal balance 93,400,101.00
Note factor 0.000000000
Class A-2
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Class A-2 principal balance 0.00
Initial Class A-2 principal balance 77,498,323.00
Note factor 0.000000000
Class A-3
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Class A-3 principal balance 59,726,645.72
Initial Class A-3 principal balance 105,463,520.00
Note factor
0.566325168
Class A-4
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Class A-4 principal balance 67,262,695.00
Initial Class A-4 principal balance 67,262,695.00
Note factor 1.000000000
Class B
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Class B principal balance 2,889,195.95
Initial Class B principal balance 4,569,477.00
Note factor 0.632281539
Class C
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Class C principal balance 2,889,195.95
Initial Class C principal balance 4,569,477.00
Note factor 0.632281539
Class D
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Class D principal balance 4,622,713.40
Initial Class D principal balance 7,311,163.00
Note factor 0.632281540
Class E
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Class E principal balance 2,311,356.38
Initial Class E principal balance 3,655,581.00
Note factor 0.632281539
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Additional Schedules and Limitations
Cumulative Loss Amount Schedule
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(i) Outstanding Principal Amount of the Notes as of the preceding Distribution Date 144,690,430.26
(ii) Overcollateralization Balance as of the preceding Distribution Date 0.00
(iii) Monthly Principal Amount 14,745,101.96
(iv) Available Amounts remaining after the payment of interest 4,921,253.26
(v) ADCB as of the end of the Collection Period 129,945,328.30
Cumulative Loss Amount 9,823,848.70
Class B Floor Calculation
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Class B Floor percentage 1.86%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 9,823,848.70
Sum of Outstanding Principal Amount of Class C Notes, Class D Notes, Class E
Notes and Overcollateralization Balance 9,823,265.73
Class B Floor 6,799,964.13
Class C Floor Calculation
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Class C Floor percentage 1.47%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 9,823,848.70
Sum of Outstanding Principal Amount of Class D Notes, Class E Notes and 6,934,069.78
Overcollateralization Balance 2,889,195.95
Class C Floor
Class D Floor Calculation
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Class D Floor percentage 1.09%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 9,823,848.70
Sum of Outstanding Principal Amount of Class E Notes and Overcollateralization Balance 2,311,356.38
Class D Floor 4,622,713.40
Class E Floor Calculation
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Class E Floor percentage 4.65%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current period 9,823,848.70
Overcollateralization Balance 0.00
Class E Floor 2,311,356.38
Heller Financial, Inc. is the Servicer (Yes/No) Yes
An Event of Default has occurred (Yes/No) No
10% Substitution Limit Calculation
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ADCB as of the Cut-off Date: 365,558,126.61
Cumulative DCB of Substitute Contracts replacing materially modified contracts 2,337,681.79
Percentage of Substitute Contracts replacing materially modified contracts 0.01
Percentage of Substitute Contracts replacing modified contracts exceeds 10% (Yes/No) No
5% Skipped Payment Limit Calculation
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The percent of contracts with Skipped Payment modifications 0
The DCB of Skipped Payment modifications exceeds 5% of the initial ADCB (Yes/No) No
Any Skipped Payments have been deferred later than January 1, 2006 No
Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Pool Data
Pool Data
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ADCB as of the first day of the Collection Period 135,476,766.96
Principal collections (4,589,987.63)
Prepayment Amounts (572,472.95)
Defaulted Contracts (449,850.58)
Change in payaheads 80,872.50
Other items including Substitutions and Repurchases 0.00
ADCB as of the last day of the Collection Period 129,945,328.30
DCB as of the first day of the Collection Period of Contracts that became Defaulted Contracts 449,850.58
Number of Contracts that became Defaulted Contracts during the period 7
Defaulted Contracts as a percentage of ADCB (annualized) 4.15%
DCB of Contracts as of the last day of the Collection Period that became Prepaid Contracts 551,367.42
Number of Prepaid Contracts as of the last day of the Collection Period 5
DCB of Contracts as of the last day of the Collection Period that were added as Substitute Contracts 0.00
Number of Substitute Contracts as of the last day of the Collection Period 0
DCB of Contracts as of the last day of the Collection Period that became Warranty Contracts 0.00
Number of Warranty Contracts as of the last day of the Collection Period 0
Recoveries collected relating to Defaulted Contracts as of the last day of the Collection Period 12,407.17
Cumulative Servicer Advances paid by the Servicer 19,200,464.55
Cumulative reimbursed Servicer Advances 19,040,993.84
Delinquencies and Losses Dollars Percent
- ------------------------ ------- -------
Current 113,234,810.92 87.14%
31-60 days past due 8,599,527.99 6.62%
61-90 days past due 5,145,952.48 3.96%
Over 90 days past due 2,965,036.91 2.28%
Total 129,945,328.30 100.00%
31+ days past due 16,710,517.38 12.86%
(i) Cumulative ADCB of Defaulted Contracts (cumulative gross losses to date) 19,189,553.52
(ii) Cumulative Recoveries realized on Defaulted Contracts 6,072,704.79
Cumulative net losses to date ( (i) - (ii) ) 13,116,848.73
Cumulative net losses as a percentage of the initial ADCB 3.59%