A reverse yankee bond is a bond issued by a U.S. company outside the U.S. and in a currency other than the US Dollar. Reverse yankee bonds are often issued in Euro, Yen or Pound Sterling. The U.S. company can often secure a more favorable interest rate with reverse yankee bonds than on the domestic market in US Dollar. Reverse yankee bonds are issued heavily when the interest rate level in the USA is significantly higher than in other industrialized countries ( especially Germany, England, Japan). Reverse yankee bonds are attractive primarily because they can reduce the interest burden for U.S. companies, in some cases significantly.