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Private-equity firms from Bain Capital to Onex Corp. are raising loans through companies they own to pay themselves dividends at a pace that exceeds even the frothy days leading to the worst financial crisis since the Great Depression.

Borrowers controlled by buyout firms are on pace to raise more than $11.5 billion this month through dividend deals, a record and up from $3.6 billion in April, according to Standard & Poor’s Capital IQ Leveraged Commentary & Data. Beats Electronics LLC, the headphone maker founded by rapper Dr. Dre and Geffen A&M Chairman Jimmy Iovine, is meeting lenders tomorrow to seek $700 million in such loans, according to people familiar with the situation who declined to be identified.

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