There is growing concern about the tightening of the credit cycle globally, following an increasingly aggressive international regulatory environment. While regulation is a given for the industry, the market landscape is being comprehensively reshaped by technology and new entrants. Whether it is high-frequency trading, increased automation of data assessment in asset management, robo-advisors, Blockchain, or the entrance of a new cadre of lenders to compete with banks from private debt providers through to peer-to-peer lenders, the financial services industry is wide open for competition and change. The current wave of market uncertainty is not an ideal environment, but offers opportunities for those who are prepared to act strategically and for the long term.
We represented CMB International Capital Limited as joint underwriter, joint global coordinator, joint book-runner, and financial advisor in Fosun International Limited's US$1.5B rights issue. Fosun International is the largest privately owned conglomerate in China. This marked the largest rights issue in Hong Kong in 2015.
We advised a consortium of global banks on a US$3B revolving credit facility and a US$2B 364-Day revolving credit facility for Anadarko Petroleum Corporation. Our lawyers represented J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets, Inc., RBS Securities Inc., and the Bank of Tokyo-Mitsubishi UFJ, Ltd. as the joint lead arrangers and joint bookrunners, and JPMorgan Chase Bank, N.A. as the administrative agent, on the financing. U.S.-based Anadarko is one of the world's largest publicly traded oil and gas exploration and production companies.
We represented Citigroup and NH Investment & Securities as the placement agents in the US$1.05B sale of common shares of Hyundai Glovis Co., Ltd. by Mong Koo Chung, the chairman of Hyundai Motor Group, and his son Euisun Chung. Hyundai Glovis is a global logistics company affiliated with Hyundai Motor Group.
We are currently representing Goldman Sachs, JP Morgan, Deutsche Bank, Barclays, Citigroup, and other underwriters in the defense of a federal securities class action related to the IPO and two secondary offerings of Sea World Entertainment, Inc. common stock. Our clients have filed motions to dismiss the consolidated class action complaint.