Explain some of the differences between a public debt offering and a private debt offering. (Select all of the choices that apply.)

A. In a public debt offering, a prospectus is created with details of the offering and a formal contract between the bond issuer and the trust company is signed.

B. The trust company makes sure the terms of the contract are enforced.

C. The bond issuer makes sure the terms of the contract are enforced.

D. In a private offering there is no need for a prospectus or a formal contract. Instead a promissory note can be enough. Moreover, the contract in a private placement does not have to be standard.