Bermuda Public Companies Update, Winter 2023

Global market update

The second half of 2022 proved to be as challenging as H1 had been for global markets. Worldwide financial uncertainty continued, fed by a number of parallel and often related ongoing crises: significant worldwide inflation, a global monetary tightening cycle, a strong U.S. dollar, a war in Europe, energy supply issues and the ongoing turmoil in China's property market.

Despite a handful of notable deals, the restructuring market continued its relatively quiet trend through the end of 2022. We expect that trend to reverse in the first half of 2023, however, now that the expansionary fiscal stimulus of the past three years has ended, and corporate restructuring and M&A will likely increase and to remain strong into 2024.