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## NOTEs TO THE FINANCIAL sTATEMENTs 

FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013 

## 38. PARENT ENTITY INFORMATION 

The following disclosures relate to Fairfax Media Limited as an individual entity, being the ultimate parent entity of the Fairfax Media group. 

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Fairfax Media Limited has entered into a Deed of Cross Guarantee with the effect that the Company guarantees debts in respect of its subsidiaries within the Closed Group. Further details regarding the deed are set out in Note 28. 

## OPERATING LEASE COMMITMENTS – PARENT ENTITY AS LESSEE 

Fairfax Media Limited has entered into commercial leases on office premises. 

Future minimum rentals payable under non-cancellable operating leases as at the period end are as follows: 

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## 39. EVENTs sUBsEqUENT TO REPORTING DATE 

The Group undertook a tender offer to repurchase some of its outstanding Senior Notes in July 2013. Acceptances under the tender totalled US$224 million of the outstanding total of US$430 million. The repurchased notes comprised US$25 million of floating rate notes and US$199 million of fixed rate notes. Approximately A$270 million of funds were used to repurchase the Senior Notes through the exercise of US$224 million of existing cross currency swaps. The early redemption of the Senior Notes will result in a $4.6 million gain net of tax recorded in the income statement in the 2014 financial year. 

In July 2013, the Group entered into a new loan facility for NZ$40 million. The loan facility is available to the Group until July 2015. 

On 13 August, the Group entered into an agreement to sell InvestSMART to Australasian Wealth Investments Limited (AWI) for cash consideration of $7 million. The completion of the transaction is dependent on a capital raising process by AWI. 

