US lenders push spreads to around 525 bps amid volatility, while European private credit spreads remain largely unchanged at 509 bps.
US private credit spreads have widened by 50-100 bps since the start of the year, lifting typical deal pricing to approximately 525 bps. The shift reflects broader market volatility, allowing lenders to demand higher returns from borrowers.
In contrast, European private credit spreads have remained stable, averaging 509 bps over the past 12 months. Data shows minimal movement, with most deals clearing at or below the 500 bps mark, particularly for mid-market, high-quality credits.
The historical spread premium of 25-50 bps for European deals over US counterparts appears to be narrowing as US lenders adjust pricing more aggressively.