On July 1, 2026, QXO Insulation, LLC entered into several debt agreements totaling over $10 billion, including $3.0 billion in senior unsecured notes (6.500% due 2031 and 6.875% due 2034), $2.25 billion in senior secured notes (6.75% due 2032), a $3.0 billion incremental term loan, and a $2.0 billion asset-based revolving credit facility. TopBuild (ticker: BLD) and its subsidiaries guaranteed these obligations. The transactions were completed upon the consummation of a merger.
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