Company: ENBSF
Filing Date: 2025-11-17
Form Type: 424B5
Source: 0001104659-25-112992
Chunk: 13

Company: ENBRIDGE INC
Filing Date: 2025-11-17
Form: 424B5
Chunk 13
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 intangible assets, including the equity interests of each of their existing and future subsidiaries. If
the Corporation or the Guarantors were unable to repay any such secured indebtedness, the creditors of those obligations could foreclose
on the pledged assets to the exclusion of Noteholders, even if an event of default exists under the Indenture at such time. As at September 30,
2025, neither SEP nor EEP had any secured indebtedness outstanding.

We may redeem the Notes of any series before they mature, which could occur when prevailing interest rates are relatively low.

The Corporation may redeem
the Notes of any series in the circumstances described under “Description of the Notes and the Guarantees — Redemption —
Optional Redemption” or in the circumstances described under “Description of the Notes and the Guarantees — Redemption
— Tax Redemption” in this prospectus supplement, which may occur when prevailing interest rates are lower than the rates borne
by the Notes. These redemption rights may, depending on prevailing market conditions at the time, create reinvestment risk for the Noteholders
of a series of Notes in that they may be unable to find a suitable replacement investment with a comparable return to those Notes. If
prevailing rates are lower at the time of redemption, Noteholders may not be able to reinvest the redemption proceeds in a comparable
security at an effective interest rate as high as the interest rate on the Notes being redeemed. Our redemption right also may adversely
affect Noteholders’ ability to sell the Notes if and at any time after the Notes are called for partial or full redemption.

Federal and state statutes allow courts, under specific circumstances, to void the guarantees of the Notes by our Guarantors and require the Noteholders to return payments received from the Guarantors.

Under U.S. bankruptcy law
and comparable provisions of state fraudulent transfer laws, a guarantee can be voided, or claims under the guarantee may be subordinated
to all other debts of that guarantor if, among other things, the guarantor, at the time it incurred the indebtedness evidenced by its
guarantee or, in some states, when payments become due under the guarantee:

| · | received less than reasonably equivalent value or fair consideration for the incurrence of the guarantee 
 and was insolvent or rendered insolvent by reason of such incurrence;                                    |

<div align='center'>S-7</div>

| · | was engaged in a business or transaction for which the guarantor’s remaining assets constituted         
 unreasonably