Deutsche shifts high-yield conference to internet from Scottsdale

New York, Sept. 28 - Deutsche Banc Alex. Brown Inc. said it is shifting its annual global high yield conference into cyberspace this year.

The event, scheduled for Oct. 3 -5, will now be an interactive internet webcast and teleconference instead of the originally planned physical conference at The Phoenician in Scottsdale, Ariz.

The investment bank said it made the change following the recent tragedy. In addition, Deutsche said it would donate money budgeted for the conference to aid victims of the terrorist attacks.

Leading high-yield bond issuers will still make presentations, moderated by members of Deutsche's high yield research team.

"Deutsche Bank remains committed to delivering information and fostering increased communication between issuers and investors," said Tom Gahan, head of Deutsche Bank's Global Credit Products division, in a news release. "This interactive format will provide an important opportunity for issuers to discuss their operations and provide an initial assessment of the impact of recent events on their businesses."

"During these unprecedented times, it is more important than ever for Deutsche Bank to facilitate the flow of information in the market," added Richard Byrne, head of Financial Sponsors, Leveraged and Structured Finance. "We also continue to work closely with our clients to identify and implement financing opportunities to help sustain their growth."

Next year the conference will return to The Phoenician, Deutsche added.

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