Shearman & Sterling advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC as representatives of the several initial purchasers in connection with AAR CORP.’s private placement of $175 million of its 7¼% Senior Notes due 2022, which was used to repay a portion of the borrowings under its revolving credit agreement incurred to pay the purchase price for its acquisition of Telair International GmbH and Nordisk Aviation Products AS on December 2, 2011.

AAR is a leading provider of products and value-added services to the worldwide aerospace and government and defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve customers through four operating segments: Aviation Supply Chain; Government and Defense Services; Maintenance, Repair and Overhaul; and Structures and Systems.

The Shearman & Sterling team included partners David Beveridge (New York-Capital Markets) and Craig Gibian (Washington, DC-Tax); counsel Harald Halbhuber (New York-Capital Markets) and Jeffrey Salinger (New York-Real Estate/Environmental); and associates Brian Bishop (New York-Capital Markets), Dora Athanasiadou (New York-Capital Markets), Brian Calandra (New York-Capital Markets), Doreen Xia (New York-Capital Markets), Judy Fisher (Washington, DC-Tax), Veronica Wissel (New York-Executive Compensation & Employee Benefits) and Jonathan Skinner (New York-Real Estate/Environmental).