Nina Eshoo formed Saltbox in 2011 to bridge the gap between developers’ and sponsors’ view that a project is financing-ready and capital providers’ assessment that a project is still in a development stage.
Saltbox provides resources, credit/risk analysis, due diligence, and financing knowledge to help projects through development and into financing.
Nina offers a depth of knowledge in project development, acquisitions, and financing. She was previously a leading project finance banker. Nina offers a broad perspective from her experience working with developers and sponsors seeking capital and with investors and lenders providing capital. She has structured, negotiated terms, and closed financings from both perspectives.
Nina can succinctly distill the complexities of project development, standard and customary practices, and financial projections into a clear narrative.
Saltbox's clients have included family offices, private equity firms, developers, and strategic sponsors.
Nina has over 30 years of experience in project finance. She specializes in infrastructure financing with an emphasis on power generation. She has conducted comprehensive due diligence on over 200 projects in her career.
She is considered an Expert in Project Finance. Nina has testified in arbitration, sat for depositions, been fully prepped for trial, and prepared Expert Reports, both proffers and rebuttals. In addition, Nina has served as a Consulting Expert for the Department of Justice.
Her assignments have encompassed all stages of a project's development - from pre-development through financial close.
Since founding Saltbox, Nina has completed over 50 engagements, lead 10 project financings, and worked on numerous asset and portfolio acquisitions.
Nina was a senior banker at Credit Agricole Corporate and Investment Bank for over 18 years. She was the lead banker for over 50 project financings and was involved in more than 80 financings in the ten-year period preceding Saltbox. Nina was known as a solution-oriented leader and for developing innovative structures and tackling difficult financings.
These financings included bank transactions, bond placements, B-Loan structures, acquisition financings, hybrid corporate/project structures, portfolio financings, Hold Co debt, and export credit covered transactions.
1992 MBA - Columbia University
Saltbox provides advisory services and project financing expertise across the broad spectrum of project finance.
Nina is an experienced Expert in Project Finance, supporting defendants and plaintiffs in relevant matters.
Saltbox is experienced in asset receivables and equipment financing facilities and in overseeing rating agency processes for clients seeking transaction ratings.
Saltbox has advised on projects at all stages of development and operation. Project types have spanned proven renewable energy sources, developing renewable technologies and gas-fired generation.
An overarching focus across single-project advisory assignments is the financial viability of a project. Will a project have the potential to attract the capital - equity investors and lenders – necessary to succeed? This analysis - from an investing and lending perspective - is informed by all aspects of a project during the development stages. Understanding and undertaking the comprehensive due diligence necessary to assess a project’s likely trajectory is a core competency.
Saltbox also works with clients through the project financing process as a “just in time” finance team – available as and when needed – leading the process or offering advice in the background.
Standard and customary practices in project finance.
Financial viability of a project.
Reasonableness of a project's assumptions.
Customary terms and conditions in project contracts to support financing.
Potential value of a project in development to investors.
Project factors and risks assessed by investors and lenders.
Validity of a developer's claims related to projects in early development.
Typical investors for energy-transition technology cos. vs. a single project with such technology.
Role of an Arranger in the context of a financing.
Reasonableness of pricing and renewal expectations of services agreements.
Account Receivables Financings - Saltbox has sourced and closed financings supported by accounts receivable and inventory for clients in the broader energy sector.
Equipment Financing - Saltbox has sourced and closed lease financings of large and complex equipment for a client in natural resources.
Asset Monitoring and Financing Compliance Services – Saltbox coordinates with the Operator and Asset Manager of a large surface parking complex for which it structured an investment grade, long-term bond financing in 2020.
Credit Rating Agency Point Person – Nina represents clients in shepherding transactions through a rating agency process, a role that benefits from Nina's credit analysis foundation.