Which one of the following statements concerning debt issues is correct?
A) A prospectus is required for public issues of equity but not for debt.
B) The only difference between a term loan and a private placement is the size of the issue.
C) Direct long-term loans must be registered with the SEC.
D) Firms often pay higher interest rates on term loans than on public issues of debt.
E) Public debt tends to have more restrictive covenants than private debt.
Correct Answer:
Verified
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