A(n) ________ is a hybrid between a conventional loan and a bond; at its heart it is a bond, but its terms are tailored to the borrower's individual needs, as a loan would be.
Private placement can be defined as non public offering also. This is because they are not sold through public offering but are sold through Private sales and the the number of investors are few and selected
These investors who receive the bonds are usually selected beforehand instead of doing it in the open market
