En+ creditors want owner to pledge RUSAL stake-paper

MOSCOW, Sept 16 (Reuters) - Creditors of Oleg Deripaska's En+ group may ask the magnate to pledge a stake of up to 10 percent in aluminium firm UC RUSAL to restructure En+'s $1 billion debt, business daily Vedomosti reported on Wednesday. An EN+ representative, who did not want to be named, confirmed to Reuters that talks had taken place to extend the rollover period until 2013, but declined to comment on any further details of the negotiations. En+, part of Deripaska's Basic Element industrial group, agreed in July a debt restructuring deal, the final details of which are now being agreed with all of the banks involved, an En+ representative said by telephone. Vedomosti cited unnamed sources close to two En+ creditors as saying banks were demanding the stake as collateral in exchange for rolling over the industrial group's debt until 2011, with a possible extension to 2013. En+ controls the businessman's 56.76 percent interest in UC RUSAL, the world's largest aluminium producer. He would therefore be unable to give up 10 percent in the firm without losing majority control. Vedomosti also quoted a third unnamed source, this time close to En+, as saying talks were focused on a "very small stake". The talks to restructure the En+ debt are separate from those to restructure the $7.3 billion debt that UC RUSAL itself owes to foreign banks. (Reporting by Robin Paxton' editing by Simon Jessop)