A bond is essentially a placeholder, meant to guarantee payment if the judgment is upheld.
If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum.
Mr Hankey said he could possibly have scraped together the $464 million deal with a combination of cash, bonds and real estate as collateral.
“I wasn’t comfortable, but I would have been happy to sit down and try to work it out. There would be a little more risk on my end so maybe there would be a little more price involved,” he said.
He told the Los Angeles Times Mr Trump had funded the bond entirely with cash. The margin was “very small” and they “gave him a good rate”.
Mr Hankey said he and his wife had donated to Mr Trump’s presidential campaigns in the past and plan to support him again in 2024.
He said it was a business deal, rather than political. He has not spoken to Mr Trump directly but son Eric Trump called to thank him after the bond was posted.
Source link
