Gilat selects financial advisor to help restructure debt

Gilat Satellite Networks (Nasdaq:GILTF) has retained Miller Buckfire Lewis & Co., the former restructuring group of Dresdner Kleinwort Wasserstein, to help it restructure its debt, the company said.

The company said its outstanding obligations include the $350 million (face value), 4.25% Convertible Subordinated Notes due in 2005 and other obligations.

Gilat said it understands that note-holders owning a significant portion of the principal amount have requested that the accounting offices of Itzhak Swary and Zellermayer, Pelossof & Co. act as their financial advisor and counsel, respectively.

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