Revealing how the firm behind Trump’s $175 million bond deal came together

Former President Donald Trump Secures $175 Million Bond with Controversial Lender Knight Specialty Insurance

Knight Specialty Insurance, a California-based company known for offering subprime auto loans to individuals with weaker credit scores, recently underwrote former President Donald Trump’s $175 million bond in New York. Don Hankey, the chairman and majority shareholder of the company, spoke with CNN about the deal.

According to Hankey, the transaction came together quickly, with Trump providing all cash as collateral. After supporting Trump’s presidential campaigns in the past, Hankey reached out to the Trump Organization when the former president encountered difficulties putting together a $464 million bond. Initially planning to use a mix of investment-grade bonds and cash as collateral, Trump ultimately decided to provide all cash.

Hankey confirmed that both he and his family have donated to Trump’s campaigns, with plans to support him in the 2024 election. While he has not heard from the president directly, Eric Trump reached out to thank him for the recent business dealings. This isn’t the first time Hankey and Trump’s businesses have been connected; Axos Bank, another California lender where he is a leading shareholder, loaned Trump $100 million to refinance the mortgage on Trump Tower in 2022, a deal that Hankey was unaware of at the time.

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