Sigourney Weaver and Kate Bosworth starrer “The Girl in the Park” is one of the first two films to be partially bankrolled by Singapore’s new $50 million loan guarantee facility.
Production on “Girl” has begun in New York. Pic is scripted by Pulitzer Prize-winning playwright David Auburn. Furst Films is producing with Singapore’s Oak3 Films.
The second film to be partly financed by the loan is writer-director Chaz Thorne’s “Pushing up Daisies,” starring Rose Byrne and Jay Baruchel. Infinite Frameworks is involved with the production alongside producers Pen Densham, Bill Niven and John Watson.
The loan guarantee facility will back at least six international films, costing a total of $50 million, over the next two years. All the films will include a Singaporean production component.
The loan is a collaboration between RGM Holdings, an Australian talent management and executive production company based in Singapore, and the Media Development Authority of Singapore.
Financiers include Citigroup Corporate & Investment Banking, Standard Chartered Bank, ICB Entertainment Finance, a division of Imperial Capital Bank, and private investors.
Using the loan, RGM will invest, executive produce and arrange distribution of films worldwide. The retained intellectual property rights will be held by RGM and managed out of Singapore.