Syndicated and leveraged lending in Europe, the Middle East and Africa last year hit records despite tumultuous debt market conditions in the second half due to the credit crisis, according to new research.

Banks lent companies a record $1.6 trillion (€1.10 trillion) worth of syndicated loans in EMEA, a 31% increase on the $1.22 trillion recorded this year as buoyant mergers and acquisitions activity underpinned demand for debt financing, according to data from Reuters Loan Pricing.