A Brazilian Farming Boom Is Rewarding Funds That Bet on Bad Debt
- Even in a drought, years of high profit are spurring repayment
- Value of repayment deals almost tripled in year through August
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Brazilian farmers flush with cash are taking the opportunity to repay old loans, rewarding investors that took on defaulted debt when times were tougher.
A combination of strong global crop prices and weak local currency has meant years of record farming profits in the top producer of everything from soybeans to sugar-cane and orange juice.