• Sat. Apr 20th, 2024

Knight Specialty Insurance Underwrites $175 Million Bond for Former President Trump’s Business

BySamantha Jones

Apr 2, 2024
The company behind Trump’s $175 million bond deal shares insights into its creation

Knight Specialty Insurance, a California-based company known for providing subprime auto loans to car buyers 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 Knight Specialty Insurance, revealed to CNN that the deal happened quickly and that Trump posted all cash as collateral for the bond.

Hankey mentioned that he had reached out to the Trump Organization last month when Trump was having difficulty putting together a $464 million bond. Eventually, the bond amount was reduced to $175 million by a New York appeals court, and Trump turned to Knight Specialty Insurance for assistance. The company approved the bonds but they were not posted in the end. 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.

This recent deal is not the first time that Hankey and Trump’s 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. Despite their previous business dealings, Hankey and Knight Specialty Insurance continue to support Trump and his endeavors.

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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