Bond bankers are preparing for a busy period in the debt capital markets, as banks look to refinance the loans that fuelled 2015's spike in M&A.

More than $1 trillion of loans were used to finance last year's record M&A market, which hit values of $5 trillion, and as of January 15 there were $525 billion-worth of acquisition-related loans due to mature globally in 2016, a figure that includes loans previously refinanced and now due to mature again, according to data provider Dealogic.