A foreign bond that is privately placed in Japan in currency other than yen (hence it is called a Euro-yen bond). More specifically, a geisha bond is issued in Japan by a non-Japanese borrower. For example, a U.S. company may issue dollar-denominated bonds in Japan by the way of geisha bonds. A geisha bond is like a shogun bond, except that geisha bonds are issued via private placement, rather than public offering.