The company behind Trump’s $175 million bond deal shares insights into its creation

Knight Specialty Insurance, based in California, is a well-known provider of subprime auto loans to car buyers with weaker credit scores. Recently, the company’s chairman and majority shareholder, Don Hankey, revealed to CNN that the deal to underwrite former President Donald Trump’s $175 million bond in New York happened quickly. Hankey mentioned that Trump posted all cash as collateral for the bond.

Despite their previous business dealings, Hankey and Knight Specialty Insurance continue to support Trump and his endeavors. In fact, this recent deal is not the first time that their businesses have been connected. In 2022, Axos Bank, a California lender in which Hankey is a leading shareholder, loaned Trump $100 million to refinance the mortgage on Trump Tower. While Hankey was not aware of the loan at the time, he has since supported Trump’s presidential campaigns and intends to do so again in 2024.

Hankey confirmed to CNN that he and his family have supported Trump’s presidential campaigns in the past and intend to do so again in 2024. Despite not being contacted directly by the president himself, Eric Trump did reach out to thank him for the business. While Knight Specialty Insurance did approve the bonds initially, they were not ultimately posted as collateral by Trump due to legal issues with the bond amount being reduced from $464 million to $175 million by a New York appeals court.

By Aiden Johnson

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