From the Viewpoint of the Borrower, an Advantage of the Issuance

From the viewpoint of the borrower, an advantage of the issuance of private debt over the issuance of public debt is ______________.

A) That public debt is likely to have fewer restrictive covenants.
B) Public debt avoids the cost of OSC registration.
C) Private debt typically has lower distribution costs.
D) That it is easier for issuers and security holders to negotiate, in the event of default, in the case of public debt than it is with private debt.
E) That the interest rate on privately placed debt is usually higher than that on public debt.