- QXO, Inc. has increased its offering size to $2.25 billion for senior secured notes.
- The notes are priced at 6.75% and are due in 2032.
- Proceeds will support the acquisition of Beacon Roofing Supply, Inc.
GREENWICH, Conn. – QXO, Inc. (QXO, Financial) announced that its subsidiary, Queen MergerCo, Inc., has successfully priced a $2.25 billion offering of 6.75% senior secured notes due in 2032. This represents an increase from the initially planned $2 billion offering. The move is a strategic component of QXO's acquisition plan for Beacon Roofing Supply, Inc.
The offering is expected to close on April 29, 2025, pending market conditions. The issuance will not be registered under the U.S. Securities Act of 1933, and is targeted at qualified institutional buyers and certain non-U.S. persons in offshore transactions. The proceeds will be used alongside new senior secured credit facilities and available balance sheet cash to finance the acquisition and cover associated expenses.
QXO's acquisition of Beacon Roofing Supply, valued at approximately $11 billion, is anticipated to position QXO as the second-largest distributor of roofing products in the U.S. upon closing, expected the week of April 28, 2025. This marks a significant step toward QXO's goal of becoming a leader in the $800 billion building products distribution sector.
