Petronas Dagangan gets approval for 2 bln ringgit Islamic bonds

KUALA LUMPUR, April 19 Fri Apr 19, 2013 7:21am EDT

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KUALA LUMPUR, April 19 (Reuters) - Petronas Dagangan Bhd (PDB) has received approval from Malaysia's Securities Commission to raise up to 2 billion ringgit ($659.30 million) in 7-year sukuk bonds, the firm said in a stock exchange filing on Friday.

The firm which is the retail arm of Malaysia's state oil firm, Petroliam Nasional Berhad, said the proceeds would be used to fund capital expenditure, as working capital and for other general purposes.

CIMB Investment Bank Berhad and HSBC Amanah Malaysia Berhad are the joint principal advisers, joint lead arrangers and joint lead managers for the sukuk programme.

($1 = 3.0335 Malaysian ringgit) (Reporting By Anuradha Raghu. Editing by Jane Merriman)