Hong Kong's Han Entertainment has completed finance on its $15m martial arts action film Silver Hawk through a gap finance deal and the appointment of Arclight Films as sales agent.

Han principal Thomas Chung and Jarred Underwood of specialist bank Comerica yesterday closed a loan of undisclosed size. The advance is securitised against existing pre-sales and sales estimates of currently unsold territories.

"We are very excited to bring another very experienced bank to Hong Kong and to have executed such a sophisticated deal," said Chung.

Local Hong Hong major, Media Asia pre-bought rights in Hong Kong, China, Taiwan, Malaysia and Singapore putting up an undisclosed minimum guarantee.

International sales outside Media Asia's five territories will be handled by Arclight's new commercial films division, Darklight. Australia-based Arclight has become increasingly involved in Asian films of late, last year handling Emperor Multimedia Group's The Twins Effect.

Silver Hawk stars Michelle Yeoh and is produced by Yeoh's Mythical Films and China's Tianjin studios, qualifying it as a full Chinese co-production and entitling it to distribution in China.

Media Asia has arranged distribution of the picture through Polybona in China, CMC and Fox in Taiwan, Shaw in Singapore and Golden Screen in Malaysia. The Hong Kong release will be handled by Media Asia and Golden Harvest. Delivery is scheduled for December with release in time for the major Chinese New Year holiday.