Alternative Investment Platform PeerBerry Repays an Additional €0.7M on War-affected Loans

PeerBerry business partners are reportedly repaying an additional €0.7 million on war-affected Ukrainian and Russian short-term loans.

After today’s repayment, the total amount of repaid war-affected loans in April “will be €3.64 million (significantly more than the planned amount of EUR 1,3 million at the beginning of the month).”

From February 24 (since the war started) till April 28, PeerBerry business partners “already repaid EUR 12,34 million on war-affected loans.”

As noted in the update, it is ¼ (or 24,6%) of the total war-affected obligations “towards PeerBerry investors.” As mentioned in a blog post, Ukrainian and Russian lenders’ total obligations towards PeerBerry investors before the war “was EUR 50,22 million.”

After today’s repayments, Aventus Group in Ukraine obligations towards investors “amount to EUR 11,26 million, in Russia – EUR 18 million. Gofingo Group in Ukraine obligations towards PeerBerry investors amount to EUR 8,57 million.”

The next repayment on war-affected loans “is scheduled for May.”

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).
  • Repayments of the war-affected AutoMoney UA and Slon Credit UA loans have been restored in April to 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.

PeerBerry’s management noted that they want “to remind you that interest rates on war-affected loans will be calculated for a limited period.”

As clarified in the update, 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.”

The update also mentioned that 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,” the update noted while adding that “after transfers of funds from Russia and Ukraine are possible and depending on the overall Group’s profitability, this period may decrease.”

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