24. Long-term Debt

As of December 31, 2014 and 2013 the Group has long-term outstanding loans as follows:

December 31, 2014 December 31, 2013
Bank loans 258,087 98,397
Bonds 61,609 61,583
Loan Participation Notes 221,107 132,534
Other borrowings 3,498 3,529
less current portion of debt (41,995) (34,588)
Total long-term debt 502,306 261,455

In September 2014 the Group signed an agreement to obtain a long-term loan facility from JSC Rosselkhozbank in the amount of RUB 30 billion at an interest rate of 11.9% due in 2019. In September 2014 the Group obtained RUB 10 billion under this agreement.

In September 2014 the Group singed agreements to obtain long-term loans facilities from JSC Sberbank of Russia in the amount of RUB 22.5 billion and RUB 12.5 billion at interest rates of 11.98% and 12.08%, respectively, due in 2019. In October 2014 the Group obtained RUB 10 billion under one of the agreements.

In March 2014 the Group drew down USD 2,150 million (RUB 78,774 million) club term facility from a group of international banks with a final maturity date falling five years from the date of the first utilisation and two-year grace period. The interest rate under the facility is LIBOR plus 1.50% per annum.

In March 2014 the Group early repaid amount outstanding under the five-year Pre-Export Finance Facility for USD 731 million (RUB 26,514 million). The facility was obtained in August 2010 and bore interest rate of LIBOR plus 1.6% per annum.

The loan agreements contain financial covenants that require the Group’s ratios of Consolidated EBITDA to Consolidated Interest Payable, Consolidated Indebtedness to Consolidated Tangible Net Worth and Consolidated Indebtedness to Consolidated EBITDA. The Group is in compliance with these covenants as of December 31, 2014 and 2013.