QXO secures 99%+ bondholder consent to strip covenants from TopBuild debt ahead of acquisition

Filed June 11, 2026 · Period ending June 12, 2026 · ~1 min read

Key Changes

• high

  99.5% of TopBuild's $500M 2032 notes and 99.7% of $750M 2034 notes tendered by early deadline, demonstrating overwhelming bondholder support for the pending acquisition at $1,011.25 per $1,000 principal plus interest.

  Item 8.01 verify on EDGAR →
• high

  Majority consent enables removal of nearly all protective covenants including change-of-control provisions, restrictive covenants, and most default triggers—significantly reducing bondholder protections but clearing acquisition obstacles.

  Item 8.01 verify on EDGAR →
• medium

  Tender offer expiration extended from June 29 to align with TopBuild acquisition closing, suggesting deal timeline may slip beyond late June as settlement will occur concurrently with acquisition close.

  Item 8.01 verify on EDGAR →