What is the meaning of Baby bond?

Bonds whose par values are less than $1, 000 are often described as' Baby bond's, or, in the case of municipal bonds, as mini-munis. Small companies that may not be able to attract institutional investors, such as banks and mutual fund companies, may offer smaller-denomination bonds to raise cash from individual investors. Some municipalities also use baby bonds to foster involvement in government activities by making it possible for more people to invest.