Taking up the torch of export-related issuance in Argentina, a leading tobacco processor funds this week. The one-year, US$12.4 million deal might lend some heat to a sector that's gone cold over the last few months.

The country's largest tobacco exporter, Cooperativa de Tabacaleros de Jujuy (CTJ), is securitizating receivables and using the funds to purchase tobacco from affiliated producers. The company's base of operations in the tropical Northwest province of Jujuy is a hotspot for the crop.

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