During the ordinary general assembly held on the 24th of October, 2014, the shareholders of Bank BEMO approved the issuance of 2,500 subordinate debt securities worth $25M, with a nominal value per bond $10,000. Direct or indirect subscription is open to individuals and companies, whether local or foreign. The subscription period will be determined by the bank at a later time. The annual interest rate of these securities has been set at 6% and is subject to a 5% deductible tax. Interests are to be disbursed on the 30th of June and the 31st of December of each year. The 2,500 subordinated debt securities are to be redeemed on the 4th of January 2021.