Item 1. Business Omitted.
Item 2.
Item 2. Properties
The Trust was formed pursuant to a Securitization Trust Agreement (the "Agreement") dated as of July 1, 1999 between Honda Titling C L.P. and Honda Titling D L.P (the "Transferors") and U.S. Bank National Association as Owner Trustee, Wilmington Trust Company as Delaware Owner Trustee and The Bank of New York as Indenture Trustee. The property of the Trust consists of two certificates, evidencing the 1999-A Special Unit of Beneficial Interest (the "SUBI") the right to receive funds on deposit in the Reserve Fund and certain other investments held in accounts for the benefit of Certificateholders. The SUBI represents a beneficial interest in SUBI Assets.
The Trust issued asset-backed certificates (the "Certificates") representing undivided interests in the Trust. The Certificates consist of five classes of senior certificates ("Class A-1 5.445% Certificates", "Class A-2 5.875% Certificates", "Class A-3 6.100% Certificates", "Class A-4 6.450% Certificates" and "Class A-5 6.650% Certificates") and two classes of subordinated certificates ("Class B 6.650% Certificates" and "Class C 6.900% Certificates"). The Class A, B and C Certificates were registered and publicly offered and sold.
The assets of the 1999-A Honda Auto Lease Trust consist primarily of retail closed-end lease contracts, for Honda and Acura motor vehicles related thereto.
Item 3.
Item 3. Legal Proceedings N/A
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders N/A
The following tables set forth the number and aggregate principal amount of delinquent receivables, the delinquency rates, and aggregate net losses of the Honda Auto Lease Trust 1999-A as of March 31, 2000 :
PART II
Item 5.
Item 5. Market For Registrant's Common Equity and Related Stockholder Matters
All holders of records of the Class A Certificates issued by Honda Auto Lease Trust 1999-A (except for Honda Titling C L.P. and Honda Titling D L.P. are registered through the nominee of Cede & Co.
The Trust used the proceeds from the issuance and sale of the securities to purchase the SUBI certificates from Honda Titling C L.P. and Honda Titling D L.P. American Honda Finance Corporation is servicing the Lease contracts. The Trust is relying on collections on the Lease contracts and funds on deposit in specified accounts to make payment on the securities.
The Trust established a reserve fund to help cover any shortfalls in distributions of interest and principal on the notes.
Item 6.
Item 6. Selected Financial Data N/A
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations N/A
Item 8.
Item 8. Financial Statements and Supplementary Data N/A
Item 9.
Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure N/A
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant N/A
Item 11.
Item 11. Executive Compensation N/A
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management N/A
Item 13.
Item 13. Certain Relationships and Related Transactions N/A
PART IV
ITEM 14.
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K.
(a) EXHIBIT NO. 99
DESCRIPTION
Annual Statement to Certificateholders pursuant to Section 10.02 of the 1999-A Supplement to Servicing Agreement, dated as of July 1, 1999 HVT, Inc. as Origination Trustee, Honda Titling A L.P., Honda Titling B L.P., as UTI Beneficiaries, American Honda Finance Corporation, as Servicer, US Bank, as Trust Agent.
(b) Reports
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Honda Auto Lease Trust 1999-A By: American Honda Finance Corporation, as Servicer (Registrant)
By: /s/ John Weisickle John Weisickle, Vice President/Finance