The motive, in many cases, is feeling greater protection against shifts in relative currency values. The standard international bonds, known as Eurobonds , are usually issued by a borrower outside its own country and are traded in Europe. The currency is foreign to either the borrower or the purchaser, or both. Yankee bonds are issued by an overseas borrower for U.S. investors. They're payable in dollars and registered with the U.S. Securities and Exchange Commission.
Samurai bonds are yen-denominated bonds issued in Japan by overseas governments or companies.
The bonds can be settled only in Japan, though they may be dual-currency issues. That means the payment and the interest are in yen, but the redemption is in another currency, such as the dollar or the Australian dollar. In a reverse dual-currency issue, the payment and redemption are in yen, but the interest is paid in another currency. Dual-currency Eurobond issues are also available. Other bonds, sometimes called dragon bonds , are launched and priced in Asia for non-Japanese Asian investors, and traded primarily in Asian time.