QXO Subsidiary, Queen MergerCo, Intends To Offer $2 Bln Of Senior Secured Notes Due 2032

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(RTTNews) - QXO Inc. (QXO) announced that its wholly owned subsidiary, Queen MergerCo Inc., intends to offer $2 billion in Senior Secured Notes due 2032. Merger Sub was formed in connection with QXO's previously announced acquisition of Beacon Roofing Supply, Inc. under the Agreement and Plan of Merger dated March 20, 2025.

Merger Sub plans to use the proceeds from the offering of the Notes, along with borrowings under new senior secured credit facilities, proceeds from QXO's previously announced equity offerings, and available balance sheet cash, to fund the transactions contemplated by the Merger Agreement and pay related fees and expenses.

In a separate press release, QXO announced that it has extended its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (BECN) for $124.35 per share. The tender offer will remain open until 5:00 p.m. (New York City time) on April 28, 2025.

Beacon's board of directors unanimously recommends that all shareholders tender their shares into the offer.

The transaction is expected to close at or near the end of April. The acquisition has received antitrust clearance in the U.S. and Canada.