• Wed. Apr 17th, 2024

From Campaign Supporter to Bond Underwriter: Knight Specialty Insurance’s Don Hankey on Supporting Donald Trump.

BySamantha Jones

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

Knight Specialty Insurance’s chairman and majority shareholder, Don Hankey, recently spoke with CNN about the deal to underwrite former President Donald Trump’s $175 million bond in New York. Hankey stated that the transaction came together quickly, with Trump providing all cash as collateral. Knight Specialty Insurance, based in California, is known for offering subprime auto loans to individuals with weaker credit scores.

Having supported 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. 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.

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. While he has not heard from the president directly, Eric Trump reached out to thank him for the recent business dealings. Hankey confirmed that both he and his family have donated to Trump’s campaigns and plan to support him in the 2024 election.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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