22 April 2022
PeerBerry partners covered 23% of war-affected obligations already
Since the war started, PeerBerry partners have already covered almost ¼ (23%) of war-affected obligations to PeerBerry investors. EUR 11,49 million of war-affected loans have been repaid since the war started.
In April, each investor holding war-affected loans, on average, has received a 6% partial repayment on war-affected loans. The next repayment on war-affected loans is scheduled for May.
At the beginning of the war (February 24, 2022), Ukrainian and Russian lenders’ total obligations to PeerBerry investors amounted to EUR 50,22 million. After the repayment of EUR 11,49 million, war-affected lenders’ obligations amount to EUR 38,73 million (Aventus Group obligations in Ukraine amount to EUR 11,55 million, Russian lenders’ obligations amount to EUR 18,4 million, Gofingo Group in Ukraine obligations amount to EUR 8,77 million).
Important to know about war-affected loans repayments
- Aventus Group and Gofingo Group will gradually repay war-affected loans monthly (not quarterly as planned at the beginning of the war).
- AutoMoney UA and Slon Credit UA loans in the coming months will be repaid under the initial loan schedule. Keep in mind, that only the principal amount will be repaid under the loan schedule as the accrued interest rate will be repaid at the very end of the schedule.
- Aventus Group real estate loan and Gofingo Group business loan will be gradually repaid monthly under the war-affected loans repayment plan following the proportionality method.
- Ukrainian and Russian short-term loans will be gradually repaid monthly under the war-affected loans repayment plan following the proportionality method.
- The proportionality method means that during each partial repayment of war-affected loans, each investor receives a certain share of their investments. The higher the amount of investments in UA/RU loans, the higher the amount of the repayment. The aim is to gradually repay part of UA/RU investments to all investors.
- All the interest rates accrued for the war-affected loans will be paid at the very end of the repayment. I.e., invested funds will be gradually repaid, and after all the invested principal amount is repaid, the accrued interest repayment will follow.
- We want to remind you that interest rates on war-affected loans will be calculated for a limited period. Interest rates for short-term loans will be calculated for the initial loan term plus 60 days of the delay (after 60 days, no interest will be accrued/paid). Interest rates for long-term loans will be calculated for the term till the nearest scheduled payment (under the loan schedule) after suspension (March 15) plus 30 days.
- If the business in Russia continues to keep a positive development trend, the RUB exchange rate will stabilize, and there will be normal conditions to convert RUB to EUR, Aventus Group may consider a compensation mechanism of interest rates for delays longer than 60 days.
- Until no transfers of funds are available from the Ukrainian and Russian markets, PeerBerry’s business partners will use a part of its profits to gradually repay war-affected loans.
- The conservatively planned repayment period to repay war-affected loans is 24 months. After transfers of funds from Russia and Ukraine are possible and depending on the overall Group’s profitability, this period may decrease.