The bond was provided by California-based company Knight Specialty Insurance Company. Trump’s collateral to secure the loans was a combination of cash and investment-grade bonds, according to Don Hankey, the chairman of Knight Insurance.
Hankey told Forbes that his company had initiated the deal, reaching out to Trump just a few days before an appeals court lowered the amount Trump would have to pay while his appeal was heard. “This is what we do at Knight insurance,” said Hankey, who confirmed he had supported Trump’s political campaigns in the past. “I’d never met Donald Trump. I’d never talked to him on the phone. I heard that he needed a loan or a bond, and this is what we do. So, we reached out, and he responded.” The deal, Hankey said, came together in just a few days.
Hankey, a billionaire who presides over an auto-services empire, may never have met Trump, but he was the largest individual owner of Axos Financial, the lender that bailed out Trump by refinancing his mortgages at Trump Tower and his Miami resort in 2022. Axos also previously had done business with the family of Jared Kushner, Trump’s son-in-law.
The Bond was put up by an insurance company.
https://www.forbes.com/sites/zacheverson/2024/04/01/trump-posts-175-million-bond-new-york-civil-fraud-lawsuit/?sh=6567be8686d9