Thomas Draper

Co-Chair, Debt Finance Practice

I enjoy drawing on my long experience and collaborative approach between lenders and borrowers to help clients obtain the debt financing facility that best meets their needs.

Tom Draper has long been recognized as one of the leading debt finance lawyers in the US and has helped clients successfully achieve a range of debt financing solutions. Tom represents a number of companies and private funds in acquisition, fund and project financing transactions, including asset-based credits, large syndicated term loans and fund capital call and portfolio leverage facilities. Tom serves as Co-Chair of the Debt Finance Practice at the firm.

Tom’s debt financing expertise is extensive. He has recently assisted public companies with high yield bond offerings, private equity sponsors in acquisition financings, direct lenders with special situation loans, cannabis businesses with growth and acquisition financing and solar companies and lenders with construction and term debt facilities.

In the fund borrower area, Tom is a national leader. He has written numerous articles, spoken on several industry panels and worked on hundreds of capital call facilities, portfolio leverage and liquidity financings for private and registered funds.

Prior to joining Foley Hoag, Tom was a partner at a global law firm headquartered in Boston, where he was the long-time head of its Finance Group.


  • University of Texas School of Law, J.D., Vice Grand Chancellor: Texas Law Review
  • Yale University, B.A.

Bar and Court Admissions

  • Massachusetts


  • Ascend Wellness Holdings, Inc., a leading multi-state, vertically integrated cannabis operator, in closing on a $210 million Senior Secured Term Loan with Seaport Global Securities LLC as lead manager for a syndicate of lenders
  • Pear Therapeutics, Inc., a pioneer of prescription digital therapeutics, in closing a $50 million secured loan transaction with Perceptive Advisors
  • A large West Coast private equity sponsor in a series of credit facilities for a company that provides customer-selected music in public settings
  • Middle-market private equity sponsor in financing a series of acquisitions of developing companies
  • Biogen Inc. in several public notes offerings
    A large direct lending fund sponsor in dozens of capital call facilities for hundreds of millions of dollars
  • A pharmaceutical company in connection with a $150 million royalty notes financing
  • A debt origination fund in a securitized underwritten notes offering secured by a portfolio of health care loans

  • Clerk to the Honorable Homer Thornberry, U.S. Court of Appeals for the Fifth Circuit


  • “Unsecured Capital Call Subscription Facilities? The SBIC Experience,” Global Legal Insights – Fund Finance Laws and Regulations 2019 (with Robert Sawyer, March 2019) 
  • “Credit Facilities for Registered Investment Funds,” ICLG, Public Investment Funds 2018, 1st Edition (with Alyson Gal, April 2018)
  • “Investor Views of Fund Subscription Lines: The ILPA Guidelines and the Market Response,” Global Legal Insights – Fund Finance, 2nd Edition (with Patricia Lynch, February 2018)
  • “Capital Call Subscription Facilities: The Borrower’s View,” Global Legal Insights - Fund Finance 2017 (with Patricia Lynch and Dan Coyne, February 2017)

Honors & Involvement

  • The Best Lawyers in America (2006-2023); Lawyer of the Year - Banking and Finance Law, Boston (2023)
  • IFLR1000, Notable Practitioner (2015-2019); Highly Regarded (2021-2022)
  • US News/Best Lawyers in America (2006-2022)
  • Chambers Global: The World's Leading Lawyers for Business (2009-2018)
  • Chambers USA: America's Leading Lawyers for Business (2005-2022)
  • Who’s Who Legal International, Leading Banking Lawyer (2013)
  • PLC Which Lawyer? (2011)
  • The Legal 500 (2011)
  • Texas Law Review (1979)
  • Instructor in “Commercial Lending” at Boston University School of Law
  • Boston Youth Symphony Orchestras, past president
  • Handel & Haydn Society, board of advisors
  • Belmont Day School, past trustee 
  • Dublin Lake Club, vice president

Speaking Engagements

  • Speaker, “Managing Credit in a Downturn,” SBIA – Lunch & Learn Webinar Series (September 2020) 
  • Speaker, “The Latest Trends in Fund Finance,” Foley Hoag: SBIC Hot Topics (January 2020) 
  • Moderator, “Credit and Evolving Fund Finance Spectrum,” 6th Annual Global Fund Finance Symposium (March  2016)
  • Speaker, “What’s New in Fund Finance?,” 7th Annual Global Fund Finance Symposium (March 2017)
  • Speaker, “Subscription and Hybrid Financing,” Maples Investment Funds Forum (February 2018)
  • Frequent speaker on debt financing topics for continuing education panels