Which of the following companies would you expect to use a private placement of long-term debt as

Question:

Which of the following companies would you expect to use a private placement of long-term debt as opposed to a public offering?
a. An electric utility serving Chicago
b. A $13-million-annual-volume maker of electronic components
c. A consortium of oil companies to finance an oil discovery in the Arctic
d. A tennis-shoe-retreading company serving northern California