debt
confidence high
sentiment neutral
materiality 0.70
QXO begins tender offers for TopBuild's $1.25B notes; early price $1,011.25 per $1K
QXO, Inc.
- Commences tender offers for TopBuild's $500M 4.125% notes due 2032 and $750M 5.625% notes due 2034.
- Total consideration $1,011.25 per $1,000 principal if tendered by June 11, 2026 Early Tender Deadline.
- Consents sought to amend indentures eliminating change-of-control and most restrictive covenants.
- Tender offers contingent on closing of QXO's pending acquisition of TopBuild (announced April 18, 2026).
- Tender offers expire June 29, 2026; Morgan Stanley is dealer manager and D.F. King is information agent.