Heller Equipment Asset Receivables Trust 1999-2
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Heller Financial, Inc.
Monthly Report - Collections and Distribution
14-Jun-02
Collection Period May 2, 2002 to June 1, 2002
Determination Date June 11, 2002
Distribution Date June 14, 2002
Available Amounts
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Scheduled Payments plus Payaheads, net of Excluded Amounts 4,368,885.88
Prepayment Amounts 1,221,450.39
Recoveries 125,753.02
Investment Earnings on Collection Account and Reserve Fund 4,886.65
Late Charges 12,925.16
Servicer Advances 0.00
------------
Total Available Amounts 5,733,901.10
============
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 147,973.53
(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 5,157,616.5
(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 (32,651.51)
(AC) Excess to Certificateholder 0.00
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Total distributions to Noteholders and
--------------------------------------
Certificateholders 5,733,901.10
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Page 1 of 8
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 96,564,032.43
(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 31
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 6.50%
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 26,701,990.69
Class A-3 Interest Rate 6.65000%
Current Class A-3 interest due 147,973.53
Class A-3 interest accrued but not paid in
prior periods 0.00
Total Class A-3 interest due 147,973.53
Class A-3 interest carried forward 0.00
Class A-3 interest distribution 147,973.53
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 0.00
Total Class A-4 interest due 380,594.75
Class A-4 interest carried forward 0.00
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 0.00
Total Class B interest due 16,564.72
Class B interest carried forward --
Class B interest distribution 16,564.72
Page 2 of 8
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 0.00
Total Class C interest due 16,901.80
Class C interest carried forward --
Class C interest distribution 16,901.80
Class D Interest Schedule
- -------------------------
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 --
Total Class E interest due 18,356.02
Class E interest carried forward --
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 --
(ii) Aggregate outstanding principal of Notes plus
Overcollateralization Balance 106,677,147.37
(iii) ADCB as of last day of the Collection
Period 91,278,038.38
Monthly Principal Amount ( (ii) - (iii)) 15,399,108.99
(iv) Class A-1 Principal Payment Amount --
Class A-1 Principal Payment Amount due
(lesser of (i) or (iv)) --
Class A-1 Principal Payment Amount distribution --
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 93,964,685.69
(ii) Class A Target Investor Principal Amount
(94.0% * ending ADCB) 85,801,356.08
Class A Principal Payment Amount 8,163,329.61
Funds available for distribution 5,157,616.53
Class A-2 Principal Schedule
- ----------------------------
Opening Class A-2 principal balance --
Class A-2 Principal Payment Amount --
Class A-2 Principal Payment Amount distribution 0.00
Principal carryforward Class A-2 --
Class A-2 principal balance after current distribution --
Page 3 of 8
Class A-3 Principal Schedule
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Opening Class A-3 principal balance 26,701,990.69
Class A-3 Principal Payment Amount 8,163,329.61
Class A-3 Principal Payment Amount distribution 5,157,616.53
Principal carryforward Class A-3 (3,005,713.08)
Class A-3 principal balance after current
distribution 21,544,374.16
Class A-4 Principal Schedule
- ----------------------------
Opening Class A-4 principal balance 67,262,695.00
Class A-4 Principal Payment Amount --
Class A-4 Principal Payment Amount distribution 0.00
Principal carryforward Class A-4 --
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) 1,140,975.48
Class B Floor 7,250,259.39
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) 1,140,975.48
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
- --------------------------
Opening Class D principal balance 4,622,713.40
Class D Target Investor Principal Amount
(2.00% * ending ADCB) 1,825,560.77
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
- --------------------------
Opening Class E principal balance 2,311,356.38
Class E Target Investor Principal Amount
(1.00% * ending ADCB) 912,780.38
Class E Floor
Class E Principal Payment Amount due 2,311,356.38
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
Page 4 of 8
Additional Principal Schedule
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Floors applicable (Yes/No) Yes
Monthly Principal Amount 15,399,108.99
Sum of Principal Payments payable on
all classes 8,163,329.61
Additional Principal payable 7,235,779.38
Additional Principal available, if payable 0.00
Class A-1 Additional Principal allocation 0.00
Class A-1 principal balance after
current distribution 0.00
Class A-2 Additional Principal allocation 0.00
Class A-2 principal balance after current
distribution 0.00
Class A-3 Additional Principal
allocation 0.00
Class A-3 principal balance after current
distribution 21,544,374.16
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 96,416,018.25
(iii) Servicing Fee due (( (i) / 12 ) * (ii)) 32,138.67
(iv) Servicing Fee accrued but not paid in prior
periods 849,811.11
Total Servicing Fee due and accrued
((iii) + (iv)) 881,949.78
Servicing Fee carried forward 881,949.78
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
ADCB of Contract Pool as of the 1st day of the
Collection Period 96,564,032.43
Aggregate Principal Amounts as of last day of
preceeding Collection Period 106,677,147.37
ADCB as of the end of the Collection Period 91,278,038.38
Required Reserve Amount (Beginning Aggregate
Principal Amount *0.70%) 746,740.03
Prior month Reserve Fund balance 779,391.54
Deposit to Reserve Fund -- excess funds 0.00
Interim Reserve Fund Balance 779,391.54
Current period draw on Reserve Fund for
Reserve Interest Payments 0.00
Current period draw on Reserve Fund for Reserve
Principal Payments 32,651.51
Excess to Certificateholder 0.00
Ending Reserve Fund balance 746,740.03
Reserve Fund balance as a percentage of aggregate
note balances as of the first day of the
Collection Period 0.70%
Investment Earnings on Reserve Account 1,074.66
Page 5 of 8
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 0.00
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 21,544,374.16
Initial Class A-3 principal balance 105,463,520.00
Note factor 0.204282715
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
Page 6 of 8
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 106,677,147.37
(ii) Overcollateralization Balance as of the
preceding Distribution Date 0.00
(iii) Monthly Principal Amount 15,399,108.99
(iv) Available Amounts remaining after the
payment of interest 5,124,965.02
(v) ADCB as of the end of the Collection Period 91,278,038.38
Cumulative Loss Amount 10,274,143.97
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 10,274,143.97
Sum of Outstanding Principal Amount of
Class C Notes, Class D, Class E Notes and
Overcollateralization Balance 9,823,265.73
Class B Floor 7,250,259.39
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 10,274,143.97
Sum of Outstanding Principal Amount of
Class D Notes and Overcollateralization
Balance 6,934,069.78
Class C Floor 2,889,195.95
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 10,274,143.97
Overcollateralization Balance 2,311,356.38
Class D Floor 4,622,713.40
Class E Floor Calculation
- -------------------------
Class E Floor percentage 4.65%
Initial ADCB 365,558,126.61
Cumulative Loss Amount for current
period 10,274,143.97
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
- ----------------------------------
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 0.64%
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 0.72%
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
Page 7 of 8
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 96,416,018.25
Principal collections (3,474,509.85)
Prepayment Amounts (1,214,250.89)
Defaulted Contracts (265,311.33)
Payaheads (183,907.80)
Substitutions and Repurchases --
ADCB as of the last day of the Collection Period 91,278,038.38
DCB as of the first day of the Collection Period of Contracts
that became Defaulted Contracts 265,311.33
Number of Contracts that became Defaulted Contracts during the
period 5
Defaulted Contracts as a percentage of ADCB
(annualized) 3.49%
DCB of Contracts as of the last day of the Collection Period that
became Prepaid Contracts 1,214,250.89
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
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 125,753.02
Delinquencies and Losses Dollars Percent
- ------------------------ ------- -------
Current 83,787,938.03 91.79%
31-60 days past due 2,931,295.60 3.21%
61-90 days past due 1,515,657.76 1.66%
Over 90 days past due 3,043,146.99 3.33%
Total 91,278,038.38 100.00%
31+ days past due 7,490,100.35 8.21%
(i) Cumulative ADCB of Defaulted Contracts (cumulative
gross losses to date) 24,347,311.90
(ii) Cumulative Recoveries realized on Defaulted Contracts 9,779,203.93
Cumulative net losses to date ( (i) - (ii)) 14,568,107.97
Cumulative net losses as a percentage of the initial
ADCB 3.99%
Page 8 of 8