QXO Closes $3 Billion Notes Offering

Paul, Weiss represented QXO, Inc., a leading distributor of building products in North America, in its private offering of $1.5 billion of 6.500% senior notes due 2031 and $1.5 billion of 6.875% senior notes due 2034. The proceeds of the offering will be used to fund a portion of the consideration for QXO’s previously announced $17 billion acquisition of TopBuild Corp., on which Paul, Weiss is also advising. Morgan Stanley, Barclays, Wells Fargo Securities, Apollo Global Securities, Citigroup and Credit Agricole CIB acted as joint bookrunning managers for the offering.

The Paul, Weiss team included corporate partners David Huntington, Mark Wlazlo, Danielle Penhall, Nickolas Bogdanovich, David Sobel and David Hong; and tax partner Scott Sontag and counsel Alyssa Wolpin.