QXO Announces the Expiration and Final Results of Cash Tender Offers and Consent Solicitations for Any and All of TopBuild Corp.’s 4.125% Senior Notes due 2032 and 5.625% Senior Notes due 2034
QXO’s subsidiary successfully tendered 99.54% of TopBuild’s 2032 Notes and 99.75% of its 2034 Notes, effectively clearing the debt hurdles for the proposed acquisition. The tender offers were priced at $1,011.25 per $1,000 principal for early tenders and $961.25 for late tenders, with settlement expected on July 1, contingent on the merger closing.
Key figures
- Redemption price
- $1,011.25
- Late tender price
- $961.25
- Early tender price
- $1,011.25
- Notes 2032 tendered
- $497,723,000
- Notes 2034 tendered
- $748,093,000
- Tender percent 2032
- 99.54%
- Tender percent 2034
- 99.75%
- Notes 2032 outstanding
- $500.0 million
- Notes 2034 outstanding
- $750.0 million
AI analysis
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