UC RUSAL says agrees key debt terms with committee

MOSCOW, July 30 - Aluminium giant United Company RUSAL has agreed key terms of a deal to restructure $7.3 billion in foreign debt with a coordinating committee representing a 70-strong creditors' club, it said in a statement on Thursday. RUSAL said the deal was still subject to credit committee approval by the lenders. The company said it would pay all creditors $5 billion of its total $16.8 billion in debt by the end of the fourth quarter of 2013. Interest would be paid partly in cash at rates ranging from 1.75 to 3.5 basis points over LIBOR. The rest of the interest would be capitalised, it said. The creditors' committee allowed RUSAL to continue building the giant Boguchany hydro dam in Siberia, it said.