Bonds that have been sold only to a limited number of institutional investors are considered:

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Bonds that have been sold only to a limited number of institutional investors are known as private placements. Private placements are non-public offerings that offer debt securities directly to a small number of investors. This method is typically utilized by companies or organizations that may not have access to public securities markets or choose to avoid the costs and regulations associated with a public offering.

Bonds That Have Been Sold Only to a Limited Number