DAYTONA BEACH, Fla. - TopBuild Corp. (NYSE:BLD), a leading installer of insulation and commercial roofing with a market capitalization of $11.6 billion, has priced its previously announced private offering of $750 million in senior notes due 2034 at 5.625%, according to a press release statement issued Monday. According to InvestingPro data, the company maintains strong financial health with an overall score of 3.09 (GREAT).
The company intends to use the net proceeds from the notes sale for general corporate purposes, which may include acquisitions. The offering is expected to close on September 25, 2025, subject to customary closing conditions.
The notes will be guaranteed on an unsecured senior basis by TopBuild's direct and indirect wholly owned domestic subsidiaries that are borrowers or guarantors under the company's credit agreement.
TopBuild, headquartered in Daytona Beach, Florida, operates through its Installation segment with over 200 branches across the United States, providing insulation and commercial roofing installation services. The company's Specialty Distribution network encompasses more than 150 branches throughout the United States and Canada.
The notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
The offering remains subject to market and other conditions, with no assurance that it will be completed or, if completed, on what terms it will be finalized.
In other recent news, TopBuild Corp reported second-quarter 2025 earnings per share (EPS) of $5.31, surpassing analysts' forecasts of $5.12. Despite a decline in total sales compared to the previous year, the company's strategic initiatives and cost management efforts contributed to this earnings beat. Additionally, TopBuild announced a private offering of $750 million in senior notes due in 2034, which will be guaranteed on an unsecured senior basis by its wholly owned domestic subsidiaries involved in the company's credit agreement. Analyst firm DA Davidson raised its price target for TopBuild to $465 from $395, maintaining a Buy rating, following the company's better-than-expected earnings results. Evercore ISI also adjusted its price target, increasing it to $425 from $418, while keeping an "In Line" rating on the stock. The firm cited a stronger environment for residential installation as a factor in its revised growth expectations for the first and second quarters of 2026. These developments reflect TopBuild's ongoing financial strategies and market positioning.
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