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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
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.