RealD Inc. announced that it entered into a new $125 million credit agreement and its Board of Directors has authorized the repurchase of up to $50 million of RealD’s common stock.

The company’s new facility replaces RealD’s existing credit agreement, which had been most recently amended on December 6, 2011. The new $125 million credit agreement is comprised of a $75 million revolving credit facility and a $50 million delayed-draw term loan facility. City National Bank served as administrative agent for the new facility.

“The repurchase authorization demonstrates our confidence in RealD’s future and our commitment to maximizing shareholder value,” said Michael V. Lewis, chairman and CEO of RealD. “Our new $125 million credit facility, further bolstered by our expectation that RealD’s business will generate strong cash flows during the current fiscal year, will allow us to capitalize on opportunities to repurchase shares.”

As of April 19, 2012, the company had approximately $30 million in cash and cash equivalents and unused borrowing capacity was approximately $100 million. The company has approximately 54.6 million shares of common stock outstanding.

RealD is a global licensor of 3D technologies. RealD’s extensive intellectual property portfolio is used in applications that enable a premium 3D viewing experience in the theater, the home and elsewhere.