April 23, 2024 1:58 pm
The company behind Trump’s $175 million bond deal shares insights into its creation

Knight Specialty Insurance, a California-based company that specializes in providing subprime auto loans to individuals with poor credit scores, recently announced its involvement in underwriting former President Donald Trump’s $175 million bond in New York. The deal came about quickly, with Hankey, the chairman and majority shareholder of Knight Specialty Insurance, revealing that Trump posted all cash as collateral for the bond.

Hankey has been a supporter of Trump’s presidential campaigns and reached out to the Trump Organization when the president was having difficulty securing funding for 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. While Hankey has not been directly contacted by the president, Eric Trump did reach out to thank him for the business.

Despite their previous business dealings with Axos Bank in 2022, where Hankey was a leading shareholder and not aware of the loan at the time, Knight Specialty Insurance continues to support Trump and his endeavors. Hankey confirmed that he and his family have supported Trump’s campaigns in the past and intend to do so again in 2024.

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