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

Knight Specialty Insurance Provides $175 Million Bond to Trump Organization, Continuing Business Connection Between California-based Companies and Former President.

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 deal came together quickly, with all cash provided as collateral by Trump.

Despite not being directly involved in the initial negotiations, Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, reached out to the Trump Organization when they 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. 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.

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