88 Notes to the Accounts Notes to the Accounts (DKK million) 31.12.01 31.12.00 19 Long-term debt Repayments falling due within 1 year are included under short-term debt. Long-term debt of the Group falling due after 5 years from the balance sheet date: Parent Company - - Group 5,713 3,103 20 Contingent liabilities and other commitments etc. of the Group: Securities given to credit institutions - 90 Mortgage loans secured in land and buildings, etc. 1,521 1,395 Securities given for unused credit lines 1,286 603 Guarantees given, etc. 1,573 907 Leasing and rental commitments, etc. 267 259 Purchasing obligations relating to tangible fixed assets 675 1,368 Purchasing commitments relating to raw materials, etc. 3,291  - Carlsberg A/S has issued guarantees for loans amounting to DKK 7,446m (31.12.2000: DKK 7,585m) raised by subsidiaries. Carlsberg Breweries A/S has also issued guarantees for loans amounting to DKK 3,390m raised by the subsidiaries of the company. Carlsberg A/S has joint and several liability for payment of corporation tax in the companies included in the joint taxation. Carlsberg A/S is registered jointly with Carlsberg Breweries A/S and Carlsberg Danmark A/S regarding VAT and excise duties and has joint and several liability in connection with payment thereof. Carlsberg A/S is party to certain lawsuits, etc. The management does not expect the outcome or continuation of these cases to have a a material, negative impact on the financial position of the Carlsberg Group. In that connection, it should also be mentioned that the EU Commission carried out a dawn-raid at Carlsberg A/S in May 2000 in order to investigate whether agreements or concerted practises existed with other major breweries regarding a division of the beer markets in the EEA. 31.12.01 31.12.00 Forward exchange contracts and options: Carlsberg A/S: Sale of foreign currency - 5,027 Purchase of foreign currency - 1,814 Carlsberg Breweries A/S: Sale of foreign currency 10,536 1,802 Purchase of foreign currency 10,580 446 The company has furthermore entered into forward rate agreements relating to the funding of marketable securities, etc. The Carlsberg Group has fixed-rate bond loans of DKK 2.9bn with a duration of 9 years and an average redemption yield of 6.6%. In addition, the Group has floating-rate long-term loans of DKK 9.8bn with an average interest rate of 3.7%. The Carlsberg Group has a net exchange rate exposure of DKK 1.5bn, mainly relating to an investment in a subsidiary amounting to net GBP 4.1bn, on which the value adjustment is taken to equity, and loans of net DKK 2.6bn in Euro (the Danish krone tracks the Euro). Interest rate exposure Exchange rate exposure