Leveraged loan issuance has hit its highest monthly value for three years, a welcome boost for dealmaking in the private equity industry where firms have been eagerly awaiting an end to banks’ “lockdown mentality” on lending.

Lenders issued €15.6bn of leveraged finance in Europe between November 1 and 11, according to ratings agency Standard & Poor's, putting the month course to top the highest-monthly figure of €20.28bn achieved at the height of the buyout boom in July 2007.