• Mon. Apr 15th, 2024

Knight Specialty Insurance Underwrites Former President Donald Trump’s Bond Deal Amidst Campaign Support

BySamantha Jones

Apr 2, 2024
Revealing how the firm behind Trump’s $175 million bond deal came together

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. The transaction came together quickly, with Trump providing all cash as collateral.

Having supported Trump’s presidential campaigns in the past, Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, reached out to the Trump Organization when the former president encountered difficulties putting together a $464 million bond. After the New York appeals court lowered the bond amount to $175 million, Trump’s team approached Knight Specialty once again. 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 and plan to support him in the 2024 election. Although 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.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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