124 NOTEs TO THE FINANCIAL sTATEMENTs  38. PARENT ENTITY INFORMATION OPERATING LEASE COMMITMENTS – PARENT ENTITY AS LESSEE 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. 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.  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: The following disclosures relate to Fairfax Media Limited as an individual entity, being the ultimate parent entity of the  Fairfax Media group. FAIRFAx MEDIA LIMITED AND CONTROLLED ENTITIES FOR THE PERIOD ENDED 30 JUNE 2013  30June 2013 $’000 24 JUNE 2012 $’000 Financial position of parent entity Current assets  1,419,568   1,647,871  Total assets  1,829,633   2,061,419  Current liabilities  12,912   18,323  Total liabilities  13,438   18,742  Total equity of parent entity Contributed equity  4,646,248   4,646,248  General reserve  (722)  (722) Acquisition reserve  (10,672)  (10,672) Share-based payment reserve  8,799   7,612  Retained losses  (2,827,458)  (2,599,789) Total equity  1,816,195   2,042,677  Result of parent entity Loss for the period  (180,630)  (2,303,255) Other comprehensive income  –   –  Total comprehensive income for the period  (180,630)  (2,303,255)  30June 2013 $’000 24 JUNE 2012 $’000 Within one year  109   161  Later than one year and not later than five years  –   82  Later than five years  –   –  Total operating lease commitments  109   243