Squarespace Reprices Loan to One of Lowest Private Debt Spreads

A group of private credit lenders including Blackstone Inc. repriced a $2.65 billion deal for Squarespace Inc. to one of the lowest spreads yet for a direct loan to a company backed by private equity, according to people with knowledge of matter.

The debt was split across two tranches, with banks taking the senior portion and the junior slice distributed to private credit firms, said one of the people, all of whom asked not to be identified discussing confidential information.

The private credit loan priced at around 4 percentage points over the base rate, while the bank debt priced at ...