GLBM Global SP Regs

    RNS Number : 8952D
  Globe Specialty Metals, Inc
  19 September 2008
   

    Globe Specialty Metals, Inc. ("Globe" or the "Company")

    New $75 million Credit Facility


    NEW YORK, September 19, 2008 - Globe Specialty Metals, Inc. (AIM:GLBM.L) announces that its subsidiary Globe Metallurgical, Inc.
yesterday closed on a $75,000,000 credit facility, comprised of a five-year senior secured term loan in an aggregate principal amount of
$40,000,000 together with a revolving credit facility of $35,000,000. Soci� G�rale, acted as Administrative Agent and Issuing Bank, with
Fortis Capital Corp., Natixis and Brown Brothers Harriman & Co. as lenders. The purpose of the new loan is to replace existing debt at
significantly lower borrowing costs.

    Globe also announces the appointment of Malcolm P. Appelbaum, age 47, as Chief Financial Officer with effect from September 21, 2008,
replacing Daniel Krofcheck.  Mr. Appelbaum brings more than 20 years of experience in general management, finance, business planning, and
technology into the position. During his career, Mr. Appelbaum held various financial and management positions at Wand Partners Inc., S.G.
Warburg & Co., Goldman, Sachs & Co. and Deloitte & Touche.  Mr. Appelbaum earned an MBA from the Columbia University School of Business and
a Bachelor's Degree in Accounting from Brooklyn College and he is a Certified Public Accountant.

    Jeffrey Bradley, Chief Executive Officer said "I am very proud that in a very difficult credit environment, Globe has been able to
refinance its debt at interest rates significantly lower than our previous credit agreement. I am also pleased to welcome Mal to our
executive team, to assist in managing the Company and its growth and organization."

    Globe Specialty Metals, Inc. is among the world's largest producers of silicon metal and silicon based specialty alloys, critical
ingredients in a host of industrial and consumer products with growing markets. Customers include major silicone chemical, aluminum and
steel manufacturers, auto companies and their suppliers, ductile iron foundries, manufacturers of photovoltaic solar cells and computer
chips, and concrete producers. The Company is headquartered in New York City. For further information please visit our web site at
www.glbsm.com.


 Telephone Contact:

 Globe Specialty Metals, Inc.
 Jeffrey K. Bradley, Chief Executive Officer  212-798-8122

 Collins Stewart Europe Limited
 Seema Paterson / Adam Cowen                  44 (0) 207 523 8350






This information is provided by RNS
The company news service from the London Stock Exchange
 
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