Blackstone's (BX) Credit & Insurance unit is leading committed debt financing for ContextLogic's planned acquisition of Gaylord Chemical and its subsidiaries from investment funds managed by EagleTree Capital and its co-investors in a transaction with an enterprise value of $850 million.

The financing includes a $250 million term loan and a $25 million revolving credit facility, ContextLogic said Wednesday.

The deal and related expenses are also expected to be financed with up to $870 million of committed equity financing, which may be reduced by proceeds from the debt financing and a proposed rights offering.

The acquisition is expected to close by the end of 2026, subject to regulatory approvals and other customary closing conditions, ContextLogic said.

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