Which one of these statements is correct?

Which one of these statements is correct?

Multiple Choice

• Term loans have a minimum maturity of 5 years.
• Less than 25 percent of debt is privately placed.
• Bond registration statements must indicate an indenture.
• Equity issues must be registered with the SEC, but bond issues do not have to be registered.
• Publicly issued debt generally carries a higher interest rate than privately issued debt.