QXO Prices $3 Billion Notes for TopBuild Acquisition

By Tamara Parker • Thursday, June 04 10:54 • Permanent Link

QXO priced $3 billion of senior notes to help fund its planned TopBuild acquisition, splitting the deal into two tranches: $1.5 billion of 6.500% notes due 2031 and $1.5 billion of 6.875% notes due 2034. Both were priced at par.

If the notes close before the TopBuild transaction is completed, the cash will be held in escrow until the acquisition closes. Once that happens, the notes will be guaranteed by QXO Building Products’ domestic restricted subsidiaries that already back the company’s senior secured first-lien term loan and senior secured notes.

The company said the bond proceeds, together with new term loan borrowings, proceeds from Series C convertible perpetual preferred stock and cash on hand at QXO and TopBuild, will be used to finance the acquisition, including repayment or repurchase of TopBuild debt and related fees and expenses.

The offering is expected to close June 17, 2026. As a result of these announcements, the company's shares have moved 0.0% on the market, and are now trading at a price of $16.44. If you want to know more, read the company's complete 8-K report here.

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