Todd Cubbage
With more than 25 years of experience in the financial services industry, Todd Cubbage represents lenders and commercial paper conduits in structuring, negotiating, and documenting sophisticated lending arrangements. Lenders rely on Todd’s solutions-oriented approach to arranging multi-jurisdictional subscription-secured credit facilities with top-tier private equity and real estate funds. As a result, he has served as lead counsel on many of the largest domestic and cross-border subscription credit facilities. Prior to focusing on subscription lending, Todd represented commercial banks and commercial paper conduits in connection with corporate and middle-market loans, leases, and securitization transactions.
Todd establishes strong personal and professional relationships with his clients, serving as a partner in the pursuit of their goals. He understands that his clients are more likely to achieve optimal results when all parties are focused and collaborative, so he maintains a firm but fair approach with opposing parties and counsel to achieve his clients’ objectives. Clients appreciate Todd’s ability to identify and understand their needs, and his skill at structuring and negotiating transactions to get deals done.
Todd is regularly called upon to speak on topics related to lending and financial markets, including at recent Fund Finance Association panels and other industry-specific conferences. Having relocated to open the firm’s Charlotte office in 2018, Todd now serves as the office’s administrative partner.
- Within the last 18 months, represented major U.S. lenders and conduit programs in over $6.9 billion of subscription secured loan facilities to real estate private equity funds.
- Representation of major U.S. lenders as lead agent and arranger in $550 million multi-currency, multi-jurisdictional working capital credit facility for a major international logistics corporation.
- Representation of a leading domestic bank in a $50 million revolving credit facility for multi-jurisdictional borrowers.
- Dallas Bar Association, Business Law Section
- State Bar of Texas, Business and Corporate Law Section
- State Bar of Oklahoma, Financial Institutions and Commercial Law Section
- State Bar of Oklahoma, Commercial, Banking and Bankruptcy Law Section
- State Bar of Illinois
- Selected for inclusion in The Best Lawyers in America, Woodward/White, Inc., for Banking and Finance Law, 2022-2025
- Recognized by Chambers USA, Chambers & Partners, for Banking and Finance, 2024
- Ranked in The Legal 500 U.S., Legalease Ltd., 2024
- "Treatment of HNW Feeders in Subscription Secured Credit Facilities," co-author, Bloomberg Law, May 5, 2023.
- “Declining Funding Ratios of City and County Pension Systems: Impact on Private Equity Fund Financing,” co-author, Haynes Boone client alert, September 2022.
- “What Sanctions Mean for Funds’ Subscription Credit Facilities,” co-author, Law360, May 2022.
Education
LL.M., Financial Transactions, ChicagoKent College of Law, 1998, with honors
B.S., Finance, Oklahoma State University, 1990
J.D., University of Tulsa, 1993
Admissions
Illinois
North Carolina
Oklahoma
Haynes and Boone, LLP earned high marks in The Legal 500 U.S. 2024 directory, including a hall of fame inductee, dozens of ranked or recommended lawyers and 10 noted practice groups. The directory, now in its 37th year, analyzes the capabilities of law firms and lawyers in various markets, based on surveys of more than 300,000 buyers of legal services. The Legal 500 is an independent guide; firms [...]
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