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QXO has extended its tender offer to acquire Beacon Roofing Supply and announced an offering of senior secured notes through its subsidiary Queen MergerCo, Inc. The company is launching a $4 billion debt package to finance the acquisition, consisting of $2 billion in senior secured notes with a 7-year maturity and 3-year call protection, alongside $2 billion in term loan B (TLB) facilities. The high-yield debt sale is being led by banks including Morgan Stanley and Goldman Sachs. Market observers note that QXO's financing effort for this acquisition has encountered a cautious reception.
Banks led by Morgan Stanley and Goldman Sachs kicked off a $4 billion junk-debt sale to help finance QXO's acquisition of Beacon Roofing Supply https://t.co/9LWory6ZzB $QXO has a shaky start for financing their first acquisition
Banks led by Morgan Stanley and Goldman Sachs kicked off a $4 billion junk-debt sale to help finance QXO's acquisition of Beacon Roofing Supply https://t.co/uwnf891iGo
Lev fin primary markets finally waking up: QXO’s $4bn debt package ($2bn secured bonds/$2bn TLB) for Beacon Quality always tests the waters first
