QXO (QXO) said Tuesday its QXO Building Products unit plans to offer $1.5 billion of senior notes due 2031 and $1.5 billion of senior notes due 2034.

Proceeds from the offering, together with new term loan borrowings and available cash, will be used to fund the $17 billion acquisition of TopBuild (BLD), QXO said.

If the notes are issued before the TopBuild acquisition closes, proceeds will be placed in escrow and the notes will be secured by escrowed funds until the transaction's completion, QXO said.