Which One of the Following Statements Is Correct Concerning the Issuance

Multiple Choice

Which one of the following statements is correct concerning the issuance of long-term debt?

A) A direct long-term loan has to be registered with the SEC.
B) Direct placement debt tends to have more restrictive covenants than publicly issued debt.
C) Distribution costs are lower for public debt than for private debt.
D) It is easier to renegotiate public debt than private debt.
E) Wealthy individuals tend to dominate the private debt market.