-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gi7uDBt46UPj7/vsvPTPAWgMzsknLXcrFLVCTAjFAUXY22fZcLq3f83zPNfbMDTz sxCwhPIp/mvBqNRSXMjvzw== 0000902561-00-000126.txt : 20000217 0000902561-00-000126.hdr.sgml : 20000217 ACCESSION NUMBER: 0000902561-00-000126 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000216 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GLOBAL CROSSING LTD CENTRAL INDEX KEY: 0001061322 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 980189783 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: SEC FILE NUMBER: 005-55643 FILM NUMBER: 547436 BUSINESS ADDRESS: STREET 1: WESSEX HOUSE 45 REID ST STREET 2: HAMILTON HM12 CITY: BERMUDA STATE: D0 ZIP: HM12 BUSINESS PHONE: 4412968600 MAIL ADDRESS: STREET 1: WESSEX HOUSE 45 REID STREET STREET 2: HAMILTON HM12 CITY: BERMUDA FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CANADIAN IMPERIAL BANK OF COMMERCE /CAN/ CENTRAL INDEX KEY: 0001045520 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL BANKS, NEC [6029] FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: COMMERCE COURT CITY: TORONTO ONTARIO STATE: A6 BUSINESS PHONE: 2128563612 MAIL ADDRESS: STREET 1: COMMERCE CT CITY: TORONTO ONTARIO STATE: A6 SC 13G/A 1 SCHEDULE 13G - AMENDMENTS SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------------ SCHEDULE 13G/A (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (Amendment No. 1)* Global Crossing Ltd. (Name of Issuer) Common Stock (Title of Class of Securities) G3921A100 (CUSIP Number) December 31, 1999 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: _ |_| Rule 13d-1(b) _ |_| Rule 13d-1(c) _ |X| Rule 13d-1(d) -------- * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. G3921A100 13G Page 2 of 5 Pages 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Canadian Imperial Bank of Commerce 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | | (b) |X| 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Canada NUMBER OF 5. SOLE VOTING POWER 0 SHARES BENEFICIALLY 6. SHARED VOTING POWER 88,365,248 OWNED BY EACH 7. SOLE DISPOSITIVE POWER 0 REPORTING PERSON WITH 8. SHARED DISPOSITIVE POWER 88,365,248 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 88,365,248 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.1% 12. TYPE OF REPORTING PERSON* CO *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 3 of 5 Pages AMENDMENT NO. 1 TO SCHEDULE 13G This Amendment No. 1 to the Schedule 13G filed on February 16, 1999 (the "Schedule 13G") is on behalf of Canadian Imperial Bank of Commerce, a bank organized under the Bank Act of Canada. The disclosure set forth in Items 4 and 6 in the Schedule 13G is hereby amended and restated in its entirety in the manner set forth herein. The disclosure set forth in Items 1,2,3,5,7,8,9 and 10 of the Schedule 13G remains unchanged and is only restated herein. Item 1. (a) Name of Issuer: Global Crossing Ltd. (the "Company") (b) Address of Issuer's Principal Executive Offices: 110 East 59th Street, New York, New York 10022 Item 2. (a) Name of Person Filing: This Statement on Schedule 13G is being filed by Canadian Imperial Bank of Commerce ("CIBC"). (b) Address of Principal Business Office: The principal business address of CIBC is Commerce Court, Toronto, Canada M5L 1A2. (c) Citizenship: CIBC is a bank organized under the Bank Act of Canada. (d) Title of Class of Securities: Common Stock (e) CUSIP Number: G3921A100 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) |_| Broker or dealer registered under Section 15 of the Exchange Act; (b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act; (c) |_| Insurance company as defined in Section 3(a)(19) of the Exchange Act; (d) |_| Investment company registered under Section 8 of the Investment Company Act; (e) |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(G); (g) |_| A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); Page 4 of 5 Pages (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) |_| A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) |_| Group, in accordance with Rule 13d-1(b)(I)(ii)(J); If this statement is filed pursuant to Rule 13d-1(c), check this box. |_| Item 4. Ownership. CIBC may be deemed to beneficially own 88,365,248 shares of the Company's Common Stock, par value $.01 per share (the "Common Stock"), which are directly held by subsidiaries and affiliates of CIBC. CIBC may be deemed to share the voting and dispositive power with respect to such Common Stock. See Item 6. Jay R. Bloom and Dean C. Kehler, directors of the Company, and Andrew Heyer are officers of an affiliate of CIBC and share voting and dispositive power with respect to the Common Stock and may be deemed to beneficially own them. Jay R. Levine, William R. Phoenix and Bruce Raben, each of whom serves as a director of the Company, are employees of an affiliate of CIBC and also may be deemed to beneficially own the Common Stock. Messrs. Levine, Phoenix and Raben disclaim such beneficial ownership. (a) Amount Beneficially Owned: 88,365,248 shares of Common Stock. (b) Percent of Class: 11.1% (based on 797,770,468 shares of Common Stock reported outstanding as of December 31, 1999). (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 88,365,248 (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: 88,365,248 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Page 5 of 5 Pages Item 6. Ownership of More than Five Percent on Behalf of Another Person. As noted above, CIBC may be deemed to have direct or indirect voting and/or investment discretion over 88,365,248 shares of the Company's Common Stock which are held for the benefit of subsidiaries and affiliates of CIBC. Such subsidiaries and affiliates have the right to receive dividends as well as the proceeds from the sale of the Common Stock. The interests of each of such persons and entities (other than CIBC WG Argosy Merchant Fund 2, LLC, an 80% owned subsidiary of CIBC), taken individually, do not exceed more than five percent of the class of Common Stock. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. Not applicable. SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: February 15, 2000 CANADIAN IMPERIAL BANK OF COMMERCE By: /s/ Patricia A. Bourdon ------------------------------- Name: Patricia A. Bourdon Title: Assistant Secretary -----END PRIVACY-ENHANCED MESSAGE-----