RUSAL debt deal requires Norilsk sale-sources

MOSCOW, July 28 (Reuters) - An initial deal to restructure RUSAL's $7.3 billion in foreign debt requires the aluminium giant to sell its stake in Norilsk Nickel if it fetches a high enough price, sources at creditor banks said on Tuesday. The terms -- which come up for a vote at a creditors' club meeting on Wednesday -- contain a formula for determining the value of the 25 percent stake in Norilsk, sources said. When the value is high enough to cover RUSAL's debts to state banks, namely a $4.5 billion loan from state bank VEB secured by the stake, the stake must be sold, the sources said. "It is obligatory, with certain conditions," one source said. The deal requires RUSAL to pay a minimum of $7.5 billion over four years to Russian and foreign creditors, who have lent a combined total of $16.8 billion to RUSAL, the sources said.