Item 1. BUSINESS.
Omitted.
Item 2.
Item 2. PROPERTIES. The property of the Registrant consists solely of student loans that are either (i) guaranteed as to the payment of principal and interest by the Pennsylvania Higher Education Assistance Agency ("PHEAA"), the Educational Credit Management Corporation ("ECMC"), the Nebraska Student Loan Program ("NSLP") or the Massachusetts Higher Education Assistance Corporation now doing business as American Student Assistance ("ASA"), and are reinsured by the United States Department of Education (the "Department") or (ii) guaranteed as to the payment of principal and interest by The Education Resources Institute, Inc. ("TERI") or HEMAR Insurance Corporation of America ("HICA"), each a private guarantor and not reinsured by the Department.
See Exhibits 99(a) a Certificate of Pennsylvania Higher Education Assistance Agency ("PHEAA"), as Servicer of the Registrant.
See Exhibit 99(b) and 99(f) a Certificate of EFS Services, Inc. ("EFS"), as Servicer of the Registrant, and the Independent Accountant's Report of KPMG Peat Marwick with respect to the activities of such Servicer during the calandar year ended December 31, 2000.
See Exhibits 99(c) and 99(f) a Certificate of Key Bank USA, National Association, as Administrator of the Registrant, and the Independent Auditor's Report of Ernst & Young with respect to the activities of the Administrator during the fiscal year ended December 31, 2000.
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See Exhibit 99(d) a Certificate of Bank One, National Association (fka The First National Bank of Chicago), as Issuer of the Registrant with respect to the activities of the Issuer during the fiscal year ended December 31, 2000.
See Exhibit 99(e) the Independent Accountant's Report of KPMG Peat Marwick with respect to the activities of PHEAA and EFS during the calandar year ended December 31, 2000.
Item 3.
Item 3. LEGAL PROCEEDINGS.
The Registrant knows of no material pending legal proceedings involving the Registrant or its property.
Item 4.
Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
No matters were submitted to Certificateholders or Noteholders for a vote during the fiscal year covered by this Annual Report.
PART II
Item 5.
Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS. At December 31, 2000, there were two (2) registered holders of the Registrant's Floating Rate Asset Backed Certificates ("Certificates") (i) Key Bank USA, National Association and (ii) CEDE & Co., as nominee of The Depository Trust Company ("DTC"). At December 29, 2000, there were two (2) persons registered on the books of DTC as record owners of Certificates. There is no established public market in which the Certificates are traded.
Item 6.
Item 6. SELECTED FINANCIAL DATA.
Omitted.
Item 7.
Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
Omitted.
Item 8.
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
Omitted.
Item 9.
Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
None.
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PART III
Item 10.
Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.
Omitted.
Item 11
Item 11 EXECUTIVE COMPENSATION.
Omitted.
Item 12.
Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.
As of December 31, 2000, the Certificates were registered in the name of (i) Key Bank USA, National Association and (ii) CEDE & Co., as nominee of DTC. As of December 29, 2000, the books of DTC indicate that the two (2) DTC participant institutions listed below are record owners of in excess of five percent (5%) of the Certificates issued by the Registrant. Only such participants, however, know the identity of the beneficial owners of interests in such Certificates.
Item 13.
Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
Omitted.
PART IV
Item 14.
Item 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K.
(a)(1) FINANCIAL STATEMENTS
Not Applicable.
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(a)(2) FINANCIAL STATEMENT SCHEDULES Not Applicable.
(b) REPORTS ON FORM 8-K FILED DURING THE LAST QUARTER OF 2000: 8-K dated December 27, 2000, reporting under Item 5 thereof, the regularly quarterly distribution to the holders of the Trust's Floating Rate Asset Backed Certificates and Floating Rate Asset Backed Notes and the distribution of the Certificateholder's Statement and Noteholder's Statement.
(c) EXHIBITS. The following documents are filed as part of this Annual Report on Form 10-K.
EXHIBIT NUMBER DESCRIPTION 99(a) Servicer's Compliance Certificate from Pennsylvania Higher Education Assistance Agency (PHEAA).
99(b) Servicer's Compliance Certificate from EFS Services, Inc.
99(c) Administrator's Compliance Certificate.
99(d) Issuer's Compliance Certificate.
99(e) Independent Accountant's Report of KPMG Peat Marwick regarding PHEAA and EFS.
99(f) Independent Auditor's Report of Ernst & Young.
Page 6 of 17
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 of the undersigned, thereunto duly authorized.
Date: March 30, 2001 KEYCORP STUDENT LOAN TRUST 1999-A
BY: BANK ONE, NATIONAL ASSOCIATION (FKA THE FIRST NATIONAL BANK OF CHICAGO), NOT IN ITS INDIVIDUAL CAPACITY BUT SOLELY AS ELIGIBLE LENDER TRUSTEE ON BEHALF OF THE TRUST
By: /s/ Jeffrey L. Kinney ---------------------------------
Name: Jeffrey L. Kinney -------------------------------
Title: Vice President ------------------------------
SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF THE ACT.
No annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to Certificateholders during the period covered by this Annual Report on Form 10-K and the Registrant does not intend to furnish such materials to Certificateholders subsequent to the filing of this report.
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INDEX OF EXHIBITS
EXHIBIT NUMBER DESCRIPTION PAGE
99(a) Servicer's Compliance Certificate from PHEAA 8
99(b) Servicer's Compliance Certificate from EFS 9
99(c) Administrator's Compliance Certificate 10
99(d) Issuer's Compliance Certificate 11
99(e) Independent Accountant's Report of KPMG Peat 12 Marwick regarding PHEAA & EFS
99(f) Independent Auditor's Report of 17 Ernst & Young