Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 77

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 77
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 offered or sold to persons in Canada pursuant to this Prospectus. The following summary of certain provisions of
the Indenture and the debt securities issued thereunder does not purport to be complete and is qualified in its entirety by reference
to the actual provisions of the Indenture.

The Corporation may issue debt securities and incur
additional indebtedness other than through an offering of debt securities pursuant to this Prospectus.

The Indenture does not limit the aggregate principal
amount of debt securities which may be issued under the Indenture or otherwise. The Indenture provides that debt securities will be in
registered form, may be issued from time to time in one or more series and may be denominated and payable in U.S. dollars or any other
currency. Unless otherwise specified in the applicable Prospectus Supplement, debt securities may be issued in whole or in part in a global
form and will be registered in the name of and be deposited with The Depository Trust Company or its nominee, Cede & Co. Unless
otherwise indicated in an applicable Prospectus Supplement, the debt securities will be issuable in denominations of US$1,000 and integral
multiples of US$1,000, or in such other denominations as may be set out in the terms of the debt securities of any particular series.

General

Material Canadian and United States federal income
tax considerations applicable to any debt securities, and special tax considerations applicable to the debt securities denominated in
a currency or currency unit other than Canadian or U.S. dollars, will be described in the Prospectus Supplement relating to the offering
of debt securities.

Unless otherwise indicated in an applicable Prospectus
Supplement, the debt securities will be unsecured obligations and will rank equally with all of the Corporation’s other unsecured
and unsubordinated indebtedness and will be guaranteed by both Guarantors. See “—Guarantees” below. Enbridge
is a holding company that conducts substantially all of its operations and holds substantially all of its assets through its subsidiaries.
As at June 30, 2025, the long-term debt (excluding the current portion, as well as guarantees and intercompany obligations between
the Corporation and its subsidiaries) of Enbridge and its subsidiaries totaled approximately $96.6 billion, of which approximately
$36.5 billion is subsidiary debt. The debt securities issued under this Prospectus will be structurally subordinated to all existing
and future liabilities, including trade payables and other indebtedness, of Enbridge