QXO raises $3B in senior notes to finance TopBuild acquisition; deal must close by Jan 2027

Filed June 17, 2026 · Period ending June 17, 2026 · ~1 min read

Key Changes

• high

  QXO issued $3.0 billion in senior notes ($1.5B at 6.500% due 2031, $1.5B at 6.875% due 2034) to finance the pending TopBuild Corp acquisition, significantly increasing leverage to fund the strategic deal.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  Proceeds are held in escrow until the TopBuild acquisition closes. If the deal fails to close by January 31, 2027, all notes must be redeemed at par plus interest, creating a firm seven-month execution deadline.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Notes are currently secured by escrowed cash but will become unsecured (with subsidiary guarantees) after the acquisition closes, shifting the credit profile based on deal completion.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →