FILE - In this May 4, 2014 file photo, an Etihad Airways plane prepares to land at the Abu Dhabi airport in the United Arab Emirates. (AP Photo/Kamran Jebreili, File)
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Goldman Sachs teaming up with two obscure brokerages.The mission: Dig out details into how the deal came together, including the roles played by Windhorst, the airline and the fundraising group, according to people with knowledge of the situation.One question at the center of the airline fundraising in 2015 and 2016 is why Goldman agreed to fill the breach as another big bank, HSBC Holdings PLC, dropped out, according to the people with knowledge of the matter.It's relatively rare to get private investigators to look into deals that involve one of the world's largest investment banks and a major airline group.Etihad's executives and Windhorst sketched out a rough plan, with Anoa, a small brokerage, tasked to work out the details, the people said. Special purpose vehicles linked to Etihad, called EA Partners, would sell bonds. Anoa's participation was among reasons that HSBC grew hesitant, but Etihad executives also fretted about whether the bank was committed enough to carrying out the complex transaction, according to three people familiar with the situation.First, the Etihad deal had to be cleared through a number of internal committees at Goldman because of the transaction's structuring oddities and the involvement of a sovereign entity, Abu Dhabi, the ultimate parent of Etihad, one of the people said.
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