Petron earlier said the Series 4D shares will pay a 6.8364 percent annual dividend, while Series 4E shares will pay 7.1032 percent.
The offer, held from Sept. 3 to 13, covered 13 million preferred shares with an additional four million shares available through oversubscription.
The shares were priced at P1,000 each, valuing the offer between P13 billion and P17 billion.
Paying down obligations
Petron plans to use about P13 billion from the offering proceeds to fully redeem its Series 3A preferred shares, which carry an initial dividend rate of 6.8713 percent, by Dec. 26 this year.
If the overallotment shares are fully sold, P875 million will go toward refinancing loans, while P2.63 billion will be allocated for oil purchases and other general corporate purposes.
BDO Capital & Investment Corp. served as the sole issue manager, joint lead underwriter, and joint bookrunner. Additional joint lead underwriters and bookrunners included Bank of Commerce, China Bank Capital Corp., Philippine Commercial Capital Inc., PNB Capital and Investment Corp., and SB Capital Investment Corp.
